Teacher Retirement System of Texas Boosts Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Teacher Retirement System of Texas lifted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 115.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,161 shares of the company's stock after acquiring an additional 5,992 shares during the quarter. Teacher Retirement System of Texas' holdings in Rush Enterprises were worth $596,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Rush Enterprises in the fourth quarter worth $10,628,000. Norges Bank purchased a new position in shares of Rush Enterprises in the fourth quarter worth $10,127,000. Raymond James Financial Inc. purchased a new position in shares of Rush Enterprises in the fourth quarter worth $9,822,000. Millennium Management LLC increased its stake in shares of Rush Enterprises by 116.5% in the fourth quarter. Millennium Management LLC now owns 299,038 shares of the company's stock worth $16,384,000 after buying an additional 160,922 shares during the period. Finally, Segall Bryant & Hamill LLC increased its stake in shares of Rush Enterprises by 35.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 468,855 shares of the company's stock worth $25,689,000 after buying an additional 121,577 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA traded down $0.72 during midday trading on Friday, hitting $51.93. 69,802 shares of the company's stock traded hands, compared to its average volume of 400,551. The firm has a fifty day moving average of $51.26 and a 200 day moving average of $53.97. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.47 and a beta of 0.88. Rush Enterprises, Inc. has a 1 year low of $46.30 and a 1 year high of $65.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 1.44.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Rush Enterprises had a net margin of 3.76% and a return on equity of 13.82%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.86 billion. On average, analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Monday, May 12th. Rush Enterprises's dividend payout ratio (DPR) is currently 20.11%.

Insider Buying and Selling

In other news, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $52.10, for a total transaction of $234,450.00. Following the completion of the transaction, the senior vice president directly owned 12,510 shares in the company, valued at approximately $651,771. This represents a 26.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jason Wilder sold 748 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $56.08, for a total value of $41,947.84. Following the transaction, the chief operating officer owned 84,672 shares of the company's stock, valued at $4,748,405.76. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,731 shares of company stock valued at $303,634. Insiders own 12.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RUSHA. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Stephens dropped their price target on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd.

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.