Strs Ohio Has $1.25 Million Stake in Rush Enterprises, Inc. $RUSHA

Strs Ohio boosted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 107.7% in the first quarter, Holdings Channel reports. The firm owned 18,900 shares of the company’s stock after purchasing an additional 9,800 shares during the quarter. Strs Ohio’s holdings in Rush Enterprises were worth $1,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its holdings in Rush Enterprises by 75.4% during the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after purchasing an additional 431 shares in the last quarter. Private Trust Co. NA increased its position in shares of Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Rush Enterprises during the 3rd quarter worth approximately $34,000. Finally, Allworth Financial LP raised its stake in shares of Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after purchasing an additional 637 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. Following the completion of the sale, the director owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. This trade represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.68% of the stock is owned by insiders.

Rush Enterprises Stock Down 3.3%

Rush Enterprises stock opened at $72.09 on Wednesday. The company’s 50-day moving average price is $70.58 and its two-hundred day moving average price is $67.34. 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 stock has a market cap of $5.60 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.58 and a beta of 0.89. Rush Enterprises, Inc. has a twelve month low of $45.67 and a twelve month high of $76.99.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $1.68 billion for 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, analysts expect that Rush Enterprises, Inc. will post 3.79 EPS for the current year.

Rush Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio is currently 22.96%.

Analyst Ratings Changes

Several analysts have issued reports on RUSHA shares. UBS Group upped their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. 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. Stephens reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Rush Enterprises in a report on Tuesday, May 19th. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.