Rush Enterprises, Inc. $RUSHA Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System increased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 29.1% in the second quarter, Holdings Channel reports. The firm owned 26,398 shares of the company’s stock after buying an additional 5,952 shares during the period. New York State Teachers Retirement System’s holdings in Rush Enterprises were worth $1,360,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in shares of Rush Enterprises by 82.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock worth $26,000 after purchasing an additional 217 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Rush Enterprises during the 1st quarter worth about $30,000. Smartleaf Asset Management LLC increased its position in shares of Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company’s stock worth $58,000 after purchasing an additional 227 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock worth $68,000 after purchasing an additional 288 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in Rush Enterprises in the 1st quarter valued at about $207,000. 84.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RUSHA shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 8th. Wall Street Zen downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Stephens reaffirmed an “overweight” rating on shares of Rush Enterprises in a research report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $61.00.

Insider Activity

In other news, COO Jason Wilder sold 4,980 shares of Rush Enterprises stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the completion of the transaction, the chief operating officer owned 79,692 shares in the company, valued at approximately $4,426,890.60. This trade represents a 5.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $57.25, for a total value of $257,625.00. Following the completion of the transaction, the senior vice president owned 12,510 shares of the company’s stock, valued at $716,197.50. The trade was a 26.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is currently owned by company insiders.

Rush Enterprises Stock Performance

Shares of RUSHA opened at $51.25 on Thursday. The stock has a 50-day simple moving average of $55.18 and a 200-day simple moving average of $52.97. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. The stock has a market capitalization of $3.99 billion, a PE ratio of 14.60, a PEG ratio of 1.47 and a beta of 0.89. Rush Enterprises, Inc. has a 1 year low of $47.06 and a 1 year high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Thursday, May 20th. The company reported $0.79 earnings per share (EPS) for the quarter. The business had revenue of $1.23 billion during the quarter. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%. On average, analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 12th. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.18. Rush Enterprises’s dividend payout ratio (DPR) is 21.65%.

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.