Rush Enterprises, Inc. (NASDAQ:RUSHA) to Issue $0.19 Quarterly Dividend

Rush Enterprises, Inc. (NASDAQ:RUSHA) announced a quarterly dividend on Tuesday, February 17th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of 0.19 per share on Wednesday, March 18th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 3rd.

Rush Enterprises has raised its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 6 years. Rush Enterprises has a payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Rush Enterprises to earn $4.93 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 15.4%.

Rush Enterprises Stock Up 5.2%

NASDAQ RUSHA traded up $3.61 on Wednesday, reaching $73.62. The company had a trading volume of 144,998 shares, compared to its average volume of 440,155. The company has a quick ratio of 0.34, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average is $61.58 and its 200 day moving average is $56.33. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $74.19. The stock has a market capitalization of $5.67 billion, a P/E ratio of 21.85, a P/E/G ratio of 0.88 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.52%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.72 billion. Sell-side analysts anticipate that Rush Enterprises will post 3.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rush Enterprises

Large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC boosted its stake in Rush Enterprises by 1.1% in the 4th quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock worth $966,000 after purchasing an additional 200 shares during the period. California State Teachers Retirement System raised its holdings in shares of Rush Enterprises by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after acquiring an additional 208 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Rush Enterprises by 8.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company’s stock valued at $159,000 after purchasing an additional 219 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Rush Enterprises by 44.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock valued at $40,000 after purchasing an additional 230 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in Rush Enterprises by 3.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,392 shares of the company’s stock worth $329,000 after buying an additional 237 shares in the last quarter. 84.43% of the stock is owned by institutional investors.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.