California State Teachers Retirement System Raises Stock Holdings in Rush Enterprises, Inc. $RUSHA

Key Points

• California State Teachers Retirement System increased its Rush Enterprises stake by 27.3% in the first quarter, bringing its holdings to 72,875 shares valued at approximately $4.8 million. Institutional investors collectively own 84.43% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $87; recent targets range from $78 to $95. Rush Enterprises exceeded quarterly expectations, reporting $0.91 in EPS versus the $0.86 consensus and $1.90 billion in revenue.
• Rush Enterprises announced a 3-for-2 stock split effective August 11 and declared a quarterly dividend of $0.14 per share, equivalent to a 0.7% annual yield. Meanwhile, company insiders sold 112,250 shares worth about $9.1 million over the past quarter.

California State Teachers Retirement System increased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 27.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,875 shares of the company's stock after acquiring an additional 15,643 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of Rush Enterprises worth $4,818,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Hsbc Holdings PLC purchased a new position in Rush Enterprises in the fourth quarter valued at about $776,000. GW&K Investment Management LLC lifted its stake in Rush Enterprises by 7.6% in the fourth quarter. GW&K Investment Management LLC now owns 350,952 shares of the company's stock valued at $18,930,000 after purchasing an additional 24,781 shares during the last quarter. Cooke & Bieler LP lifted its stake in Rush Enterprises by 85.0% in the fourth 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 during the last quarter. Denali Advisors LLC grew its holdings in Rush Enterprises by 10.0% during the fourth quarter. Denali Advisors LLC now owns 148,811 shares of the company's stock valued at $8,027,000 after purchasing an additional 13,515 shares during the period. Finally, M&T Bank Corp increased its position in Rush Enterprises by 322.0% in the fourth quarter. M&T Bank Corp now owns 21,956 shares of the company's stock worth $1,184,000 after buying an additional 16,753 shares during the last quarter. Institutional investors own 84.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RUSHA shares. UBS Group upped their price target on Rush Enterprises from $73.00 to $78.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Wolfe Research initiated coverage on Rush Enterprises in a report on Monday, April 27th. They issued an "outperform" rating and a $88.00 price objective for the company. Weiss Ratings upgraded Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Zacks Research raised shares of Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Finally, Stephens increased their target price on shares of Rush Enterprises from $90.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Rush Enterprises currently has an average rating of "Moderate Buy" and an average target price of $87.00.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 6,500 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $81.44, for a total value of $529,360.00. Following the completion of the sale, the director owned 16,229 shares of the company's stock, valued at $1,321,689.76. This represents a 28.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael L. Goldstone sold 2,400 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $81.05, for a total transaction of $194,520.00. Following the transaction, the senior vice president owned 12,590 shares in the company, valued at $1,020,419.50. The trade was a 16.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 112,250 shares of company stock valued at $9,092,352 over the last quarter. 12.68% of the stock is owned by company insiders.

Rush Enterprises Stock Performance

Shares of RUSHA opened at $79.73 on Friday. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $83.61. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. The company has a market cap of $6.20 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87. The stock has a 50-day moving average price of $73.43 and a 200-day moving average price of $70.56.

Rush Enterprises's stock is set to split before the market opens on Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. As a group, equities analysts forecast that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 annualized dividend and a yield of 0.7%. Rush Enterprises's payout ratio is 16.87%.

Rush Enterprises Company 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.

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