New York State Teachers Retirement System Takes Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

New York State Teachers Retirement System bought a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the 4th quarter, HoldingsChannel reports. The fund bought 15,529 shares of the company’s stock, valued at approximately $781,000.

Several other hedge funds and other institutional investors have also modified their holdings of RUSHA. Vanguard Group Inc. boosted its position in Rush Enterprises by 49.0% during the third quarter. Vanguard Group Inc. now owns 6,915,478 shares of the company’s stock valued at $282,359,000 after purchasing an additional 2,274,689 shares during the last quarter. Wellington Management Group LLP boosted its position in Rush Enterprises by 49.2% during the third quarter. Wellington Management Group LLP now owns 6,193,077 shares of the company’s stock valued at $252,863,000 after purchasing an additional 2,041,125 shares during the last quarter. BlackRock Inc. boosted its position in Rush Enterprises by 25.0% during the third quarter. BlackRock Inc. now owns 5,016,778 shares of the company’s stock valued at $220,037,000 after purchasing an additional 1,002,869 shares during the last quarter. FMR LLC boosted its position in Rush Enterprises by 51.7% during the third quarter. FMR LLC now owns 3,581,306 shares of the company’s stock valued at $146,225,000 after purchasing an additional 1,220,003 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Rush Enterprises by 41.7% during the third quarter. JPMorgan Chase & Co. now owns 2,531,048 shares of the company’s stock valued at $103,343,000 after purchasing an additional 744,310 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Trading Up 0.1 %

Shares of RUSHA opened at $47.96 on Friday. Rush Enterprises, Inc. has a 12-month low of $33.37 and a 12-month high of $53.78. The company has a quick ratio of 0.27, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.14 and a beta of 1.02. The stock’s 50-day moving average price is $49.33 and its 200 day moving average price is $44.57.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.11. Rush Enterprises had a return on equity of 18.44% and a net margin of 4.38%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $1.16 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that Rush Enterprises, Inc. will post 2.88 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. Investors 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 annualized dividend and a yield of 1.42%. Rush Enterprises’s dividend payout ratio is 16.43%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RUSHA shares. StockNews.com lowered Rush Enterprises from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Stephens restated an “overweight” rating and set a $58.00 target price on shares of Rush Enterprises in a report on Wednesday, February 14th.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $48.28, for a total transaction of $543,150.00. Following the sale, the senior vice president now directly owns 2,777 shares of the company’s stock, valued at $134,073.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Rush Enterprises Company 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.