Teacher Retirement System of Texas Boosts Stake in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Teacher Retirement System of Texas lifted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 115.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,161 shares of the company’s stock after purchasing an additional 5,992 shares during the quarter. Teacher Retirement System of Texas’ holdings in Rush Enterprises were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in Rush Enterprises by 6.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 97,893 shares of the company’s stock valued at $5,427,000 after purchasing an additional 6,210 shares during the period. Illinois Municipal Retirement Fund grew its holdings in Rush Enterprises by 1.8% during the first quarter. Illinois Municipal Retirement Fund now owns 33,792 shares of the company’s stock valued at $1,805,000 after purchasing an additional 607 shares during the period. Nilsine Partners LLC boosted its stake in shares of Rush Enterprises by 10.6% in the first quarter. Nilsine Partners LLC now owns 52,664 shares of the company’s stock worth $2,813,000 after acquiring an additional 5,040 shares during the period. Ritholtz Wealth Management bought a new position in shares of Rush Enterprises in the first quarter worth about $237,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Rush Enterprises by 6.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,302,218 shares of the company’s stock worth $69,552,000 after acquiring an additional 79,499 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Performance

NASDAQ RUSHA opened at $52.09 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 1.44. Rush Enterprises, Inc. has a fifty-two week low of $46.30 and a fifty-two week high of $65.43. The stock has a 50-day simple moving average of $51.09 and a two-hundred day simple moving average of $54.00. The firm has a market capitalization of $4.05 billion, a P/E ratio of 14.55, a PEG ratio of 1.52 and a beta of 0.88.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a return on equity of 13.82% and a net margin of 3.76%. On average, equities analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Monday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is 20.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RUSHA. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday. Stephens dropped their price objective on Rush Enterprises from $63.00 to $61.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd.

Insiders Place Their Bets

In other news, COO Jason Wilder sold 748 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $56.08, for a total transaction of $41,947.84. Following the sale, the chief operating officer owned 84,672 shares of the company’s stock, valued at approximately $4,748,405.76. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $52.10, for a total value of $234,450.00. Following the completion of the transaction, the senior vice president directly owned 12,510 shares in the company, valued at $651,771. This trade represents a 26.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,731 shares of company stock worth $303,634 in the last ninety days. Corporate insiders own 12.28% of the company’s stock.

About Rush Enterprises

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.