Strs Ohio Has $1.25 Million Position in Rush Enterprises, Inc. $RUSHA

Strs Ohio increased its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 107.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,900 shares of the company’s stock after purchasing an additional 9,800 shares during the period. Strs Ohio’s holdings in Rush Enterprises were worth $1,249,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RUSHA. Goldman Sachs Group Inc. boosted its stake in Rush Enterprises by 174.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after buying an additional 607,047 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Rush Enterprises during the fourth quarter valued at $25,811,000. Millennium Management LLC boosted its stake in shares of Rush Enterprises by 280.4% in the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after purchasing an additional 398,721 shares in the last quarter. Cooke & Bieler LP boosted its stake in shares of Rush Enterprises by 85.0% in the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock valued at $39,336,000 after purchasing an additional 335,019 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Rush Enterprises by 91.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock worth $32,392,000 after purchasing an additional 301,119 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. Following the transaction, the director owned 16,229 shares of the company’s stock, valued at $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.68% of the stock is owned by company insiders.

Rush Enterprises Trading Down 3.3%

Shares of NASDAQ RUSHA opened at $72.09 on Wednesday. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $76.99. The company has a 50-day moving average of $70.58 and a two-hundred day moving average of $67.34. The company has a market cap of $5.60 billion, a PE ratio of 21.78, a P/E/G ratio of 1.58 and a beta of 0.89. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.73 billion. As a group, equities analysts expect that Rush Enterprises, Inc. will post 3.79 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.1%. Rush Enterprises’s payout ratio is presently 22.96%.

Analysts Set New Price Targets

RUSHA has been the subject of several analyst reports. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. UBS Group upped their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Wolfe Research initiated coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 target price for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a report on Thursday, June 18th. Finally, Stephens restated an “overweight” rating and set a $85.00 price target on shares of Rush Enterprises in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.67.

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.