Louisiana State Employees Retirement System Takes Position in Rush Enterprises, Inc. $RUSHA

Louisiana State Employees Retirement System acquired a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 26,900 shares of the company’s stock, valued at approximately $1,778,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Rush Enterprises by 33.6% during the 1st quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock worth $575,000 after purchasing an additional 2,715 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Rush Enterprises by 8.0% in the 1st quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock worth $1,309,000 after purchasing an additional 1,806 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Rush Enterprises by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock worth $1,935,000 after buying an additional 1,592 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Rush Enterprises by 18.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock worth $20,851,000 after buying an additional 60,615 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in Rush Enterprises in the first quarter worth $221,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RUSHA has been the subject of several analyst reports. UBS Group boosted their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Stephens reiterated an “overweight” rating and issued a $85.00 price objective on shares of Rush Enterprises in a research report on Tuesday, May 19th. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Wolfe Research assumed coverage on Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price objective for the company. Finally, Zacks Research lowered Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rush Enterprises has a consensus rating of “Hold” and an average price target of $83.67.

Rush Enterprises Trading Up 0.9%

Rush Enterprises stock opened at $72.99 on Wednesday. The firm has a 50 day simple moving average of $70.72 and a 200-day simple moving average of $66.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The stock has a market capitalization of $5.67 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.53 and a beta of 0.88. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $76.99.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. As a group, equities research analysts expect that Rush Enterprises, Inc. will post 3.79 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.76 annualized dividend and a yield of 1.0%. Rush Enterprises’s dividend payout ratio (DPR) is currently 22.96%.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the sale, the director directly owned 16,229 shares in the company, valued at approximately $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.68% of the stock is currently owned by insiders.

Rush Enterprises Profile

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.