Maryland State Retirement & Pension System Cuts Position in Rush Enterprises, Inc. $RUSHA

Maryland State Retirement & Pension System lessened its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 51.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,805 shares of the company’s stock after selling 9,180 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Rush Enterprises were worth $471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in Rush Enterprises by 540.0% in the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock worth $43,604,000 after purchasing an additional 714,253 shares during the period. Edgestream Partners L.P. grew its stake in shares of Rush Enterprises by 664.8% during the second quarter. Edgestream Partners L.P. now owns 98,962 shares of the company’s stock valued at $5,098,000 after buying an additional 86,023 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of Rush Enterprises by 2.9% in the second quarter. Segall Bryant & Hamill LLC now owns 505,212 shares of the company’s stock worth $26,023,000 after buying an additional 14,387 shares during the period. Global Alpha Capital Management Ltd. lifted its stake in shares of Rush Enterprises by 4.5% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 843,890 shares of the company’s stock valued at $43,469,000 after acquiring an additional 36,600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Rush Enterprises by 76.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,969 shares of the company’s stock valued at $4,269,000 after acquiring an additional 34,979 shares during the period. Institutional investors own 84.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RUSHA. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 8th. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Stephens lowered their price objective on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.00.

Rush Enterprises Price Performance

RUSHA opened at $63.08 on Friday. The firm has a market cap of $4.86 billion, a PE ratio of 18.72, a P/E/G ratio of 0.80 and a beta of 0.92. The stock has a 50-day moving average price of $55.85 and a 200-day moving average price of $54.48. Rush Enterprises, Inc. has a 1 year low of $45.67 and a 1 year high of $66.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 0.34.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.52%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.75 billion. Sell-side analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Wednesday, November 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, November 12th. Rush Enterprises’s dividend payout ratio is presently 22.55%.

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.