Arizona State Retirement System Lowers Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Arizona State Retirement System lowered its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,620 shares of the company’s stock after selling 326 shares during the period. Arizona State Retirement System’s holdings in Rush Enterprises were worth $886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of Rush Enterprises by 49.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 174,267 shares of the company’s stock worth $7,115,000 after purchasing an additional 58,050 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Rush Enterprises by 29.0% in the 3rd quarter. Victory Capital Management Inc. now owns 86,916 shares of the company’s stock worth $3,549,000 after purchasing an additional 19,554 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Rush Enterprises in the 3rd quarter worth about $957,000. Wellington Management Group LLP raised its position in shares of Rush Enterprises by 49.2% in the 3rd quarter. Wellington Management Group LLP now owns 6,193,077 shares of the company’s stock worth $252,863,000 after purchasing an additional 2,041,125 shares during the last quarter. Finally, Corbyn Investment Management Inc. MD raised its position in shares of Rush Enterprises by 47.9% in the 3rd quarter. Corbyn Investment Management Inc. MD now owns 29,142 shares of the company’s stock worth $1,190,000 after purchasing an additional 9,438 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Analyst Ratings Changes

RUSHA has been the subject of a number of recent analyst reports. StockNews.com lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Stephens reissued an “overweight” rating and issued a $58.00 target price on shares of Rush Enterprises in a research report on Wednesday, February 14th.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $49.11 on Wednesday. Rush Enterprises, Inc. has a fifty-two week low of $33.37 and a fifty-two week high of $53.78. The business has a 50-day simple moving average of $49.27 and a two-hundred day simple moving average of $44.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 1.35. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, February 13th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.11. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.88 billion. Rush Enterprises had a return on equity of 18.44% and a net margin of 4.38%. Rush Enterprises’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 EPS. On average, analysts expect that Rush Enterprises, Inc. will post 3.19 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, February 26th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.38%. Rush Enterprises’s dividend payout ratio is currently 16.41%.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $48.28, for a total transaction of $543,150.00. Following the completion of the sale, the senior vice president now directly owns 2,777 shares in the company, valued at approximately $134,073.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.

Rush Enterprises Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.