Louisiana State Employees Retirement System Purchases New Stake in Rush Enterprises, Inc. $RUSHA

Key Points

• Louisiana State Employees Retirement System opened a new position in Rush Enterprises during the first quarter, buying 26,900 shares worth about $1.78 million.
• Rush Enterprises reported better-than-expected quarterly earnings of $0.77 per share, though revenue of $1.68 billion came in slightly below analyst estimates.
• The stock has seen mixed sentiment: a director sold shares recently, the company paid a quarterly dividend of $0.19 per share, and analysts currently have a consensus Hold rating with an average price target of $83.67.

Louisiana State Employees Retirement System acquired a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 26,900 shares of the company's stock, valued at approximately $1,778,000.

Several other large investors have also recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Rush Enterprises by 38.6% in the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company's stock valued at $62,743,000 after purchasing an additional 326,917 shares in the last quarter. Natixis Advisors LLC grew its position in Rush Enterprises by 21.3% during the third quarter. Natixis Advisors LLC now owns 225,381 shares of the company's stock worth $12,051,000 after buying an additional 39,604 shares during the period. SG Americas Securities LLC increased its holdings in Rush Enterprises by 63.9% in the fourth quarter. SG Americas Securities LLC now owns 27,040 shares of the company's stock valued at $1,459,000 after buying an additional 10,545 shares in the last quarter. Elo Mutual Pension Insurance Co purchased a new stake in shares of Rush Enterprises during the 3rd quarter worth approximately $978,000. Finally, Cooke & Bieler LP grew its holdings 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 worth $39,336,000 after acquiring an additional 335,019 shares during the period. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insider Activity

In related news, Director Michael Mcroberts sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The shares were 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 approximately $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 12.68% of the company's stock.

Rush Enterprises Stock Up 0.9%

Shares of NASDAQ:RUSHA opened at $72.99 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $5.67 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.53 and a beta of 0.88. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $76.99. The stock's fifty day simple moving average is $70.72 and its 200-day simple moving average is $66.78.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.05. The firm had revenue of $1.68 billion during 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 forecast that Rush Enterprises, Inc. will post 3.79 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises's payout ratio is currently 22.96%.

Wall Street Analyst Weigh In

A number of analysts have commented on RUSHA shares. Wall Street Zen downgraded Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, June 14th. Zacks Research downgraded Rush Enterprises from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. 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 price objective on the stock. UBS Group raised their target price 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. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Rush Enterprises in a report on Thursday, June 18th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rush Enterprises has a consensus rating of "Hold" 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.

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