Strs Ohio Sells 58,400 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Strs Ohio sharply reduced its stake in Rush Enterprises, selling 58,400 shares in the fourth quarter and cutting its position by 86.5% to 9,100 shares worth about $491,000.
• Rush Enterprises reported better-than-expected quarterly earnings of $0.77 per share, though revenue of $1.68 billion came in below analysts’ forecast of $1.73 billion.
• The stock also drew mixed attention from Wall Street: the consensus rating is Hold with an average target price of $83.67, while the company announced a quarterly dividend of $0.19 per share, yielding about 1.1%.

Strs Ohio decreased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 86.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,100 shares of the company's stock after selling 58,400 shares during the period. Strs Ohio's holdings in Rush Enterprises were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RUSHA. Royal Bank of Canada increased its holdings in shares of Rush Enterprises by 33.6% during the first quarter. Royal Bank of Canada now owns 10,786 shares of the company's stock valued at $575,000 after acquiring an additional 2,715 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Rush Enterprises by 8.0% during the first 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. raised its holdings in shares of Rush Enterprises by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company's stock worth $1,935,000 after purchasing an additional 1,592 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Rush Enterprises by 18.4% during the first quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company's stock worth $20,851,000 after purchasing an additional 60,615 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Rush Enterprises during the 1st quarter worth approximately $221,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on RUSHA. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Zacks Research cut shares of 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 set an "outperform" rating and a $88.00 price objective on the stock. UBS Group increased their target price on Rush Enterprises from $73.00 to $78.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings upgraded Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $83.67.

Rush Enterprises Stock Up 1.4%

NASDAQ RUSHA opened at $72.31 on Friday. The business's fifty day simple moving average is $68.84 and its 200-day simple moving average is $61.66. 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 firm has a market cap of $5.56 billion, a PE ratio of 21.85, a P/E/G ratio of 1.53 and a beta of 0.93. Rush Enterprises, Inc. has a 52 week low of $45.67 and a 52 week high of $76.99.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 earnings per share (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 the consensus estimate 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 analysts anticipate that Rush Enterprises, Inc. will post 3.79 earnings per share for the current year.

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, May 12th. Rush Enterprises's dividend payout ratio (DPR) is presently 22.96%.

Insiders Place Their Bets

In related news, SVP Jody Pollard sold 11,250 shares of the firm's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $71.92, for a total transaction of $809,100.00. Following the completion of the sale, the senior vice president directly owned 3,385 shares of the company's stock, valued at approximately $243,449.20. This trade represents a 76.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raymond Joseph Chess sold 10,000 shares of Rush Enterprises stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $65.05, for a total value of $650,500.00. Following the completion of the transaction, the director directly owned 41,170 shares of the company's stock, valued at approximately $2,678,108.50. This represents a 19.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,750 shares of company stock valued at $2,927,290 over the last 90 days. Company insiders own 12.68% of the company's stock.

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.

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