New York State Teachers Retirement System Increases Stock Holdings in Rush Enterprises, Inc. $RUSHA

New York State Teachers Retirement System increased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 29.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State of Wyoming lifted its position in shares of Rush Enterprises by 5.0% during the 1st quarter. State of Wyoming now owns 4,511 shares of the company’s stock valued at $241,000 after buying an additional 213 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted 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 valued at $26,000 after buying an additional 217 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 valued at $58,000 after buying an additional 227 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Rush Enterprises by 3.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 9,084 shares of the company’s stock valued at $468,000 after buying an additional 280 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Rush Enterprises by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock valued at $68,000 after purchasing an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Down 0.4%

Shares of RUSHA opened at $51.25 on Thursday. Rush Enterprises, Inc. has a 52-week low of $47.06 and a 52-week high of $65.43. The company has a market capitalization of $3.99 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89. The stock has a fifty day simple moving average of $55.18 and a two-hundred day simple moving average of $52.97. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23.

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

Rush Enterprises Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Rush Enterprises news, Director Michael Mcroberts sold 6,000 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the sale, the director directly owned 15,771 shares of the company’s stock, valued at $861,727.44. This trade represents a 27.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael L. Goldstone sold 4,500 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $57.25, for a total value of $257,625.00. Following the completion of the sale, the senior vice president directly owned 12,510 shares of the company’s stock, valued at $716,197.50. This trade represents a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,480 shares of company stock valued at $862,104 in the last three months. 12.28% of the stock is currently owned by insiders.

Rush Enterprises 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.