Teachers Retirement System of The State of Kentucky Trims Holdings in Rush Enterprises, Inc. $RUSHA

Key Points

• Teachers Retirement System of The State of Kentucky cut its Rush Enterprises (NASDAQ:RUSHA) stake by 66.6% in Q4, selling 30,691 shares and retaining 15,391 shares worth about $831,000.
• Corporate insiders sold 33,750 shares valued at roughly $2.35 million over the past three months, reducing individual director holdings and leaving insiders with 12.68% ownership.
• Analysts are mixed: the consensus rating is "Hold" with a consensus target of $83.67, while individual firms' targets and ratings range from a $78 neutral to an $88 outperform.

Teachers Retirement System of The State of Kentucky trimmed its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 66.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,391 shares of the company's stock after selling 30,691 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Rush Enterprises were worth $831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in Rush Enterprises by 250.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company's stock worth $27,000 after acquiring an additional 365 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after acquiring an additional 431 shares in the last quarter. Private Trust Co. NA increased its holdings in Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company's stock worth $29,000 after acquiring an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Rush Enterprises in the 3rd quarter worth approximately $34,000. Finally, Allworth Financial LP increased its holdings in Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $35,000 after acquiring an additional 637 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RUSHA shares. UBS Group increased their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday. Stephens reissued an "overweight" rating and issued a $85.00 target price (up from $80.00) on shares of Rush Enterprises in a report on Thursday. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Wolfe Research began coverage on shares of Rush Enterprises in a report on Monday. They issued an "outperform" rating and a $88.00 target price for the company. Finally, Zacks Research lowered shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $83.67.

Insider Buying and Selling

In related news, Director Raymond Joseph Chess sold 10,000 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total value of $650,500.00. Following the completion of the sale, the director directly owned 41,170 shares in the company, valued at $2,678,108.50. This trade represents a 19.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Mcroberts sold 8,000 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $70.81, for a total value of $566,480.00. Following the completion of the sale, the director owned 16,229 shares of the company's stock, valued at approximately $1,149,175.49. This represents a 33.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,750 shares of company stock valued at $2,349,450 in the last three months. Corporate insiders own 12.68% of the company's stock.

Rush Enterprises Stock Up 2.8%

NASDAQ RUSHA opened at $74.03 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The company has a market capitalization of $5.70 billion, a P/E ratio of 22.37, a P/E/G ratio of 1.43 and a beta of 0.89. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $76.99. The stock has a 50 day moving average price of $69.00 and a 200-day moving average price of $61.09.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results 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 company 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 predict that Rush Enterprises, Inc. will post 3.79 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th will be given a $0.19 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. Rush Enterprises's dividend payout ratio (DPR) is currently 22.96%.

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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