Rush Enterprises, Inc. (RUSHA) Shares Sold by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio cut its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 38.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,499 shares of the company’s stock after selling 88,401 shares during the quarter. Public Employees Retirement System of Ohio owned 0.36% of Rush Enterprises worth $6,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Rush Enterprises by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock worth $152,000 after acquiring an additional 316 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Rush Enterprises in the 3rd quarter worth approximately $1,872,000. Westfield Capital Management Co. LP lifted its holdings in shares of Rush Enterprises by 18.3% in the 2nd quarter. Westfield Capital Management Co. LP now owns 722,639 shares of the company’s stock worth $26,868,000 after acquiring an additional 111,813 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rush Enterprises by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock worth $109,302,000 after acquiring an additional 230,463 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Rush Enterprises by 9.5% in the 2nd quarter. Sterling Capital Management LLC now owns 34,494 shares of the company’s stock worth $1,282,000 after acquiring an additional 2,984 shares during the last quarter. Institutional investors and hedge funds own 76.27% of the company’s stock.
Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) opened at $49.64 on Friday. Rush Enterprises, Inc. has a 1-year low of $30.36 and a 1-year high of $54.11. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.55. The company has a market cap of $1,960.00, a price-to-earnings ratio of 25.72, a P/E/G ratio of 1.61 and a beta of 1.17.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. equities analysts anticipate that Rush Enterprises, Inc. will post 2.07 earnings per share for the current fiscal year.
Rush Enterprises declared that its Board of Directors has initiated a share buyback plan on Thursday, November 30th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of brokerages have recently weighed in on RUSHA. ValuEngine lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Zacks Investment Research lowered shares of Rush Enterprises from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 27th. Buckingham Research began coverage on shares of Rush Enterprises in a report on Tuesday, September 5th. They issued a “neutral” rating and a $40.00 price objective for the company. Finally, BMO Capital Markets restated a “market perform” rating and issued a $50.00 price objective (up from $42.00) on shares of Rush Enterprises in a report on Monday, October 30th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $46.00.
In other Rush Enterprises news, EVP Derrek Weaver sold 26,732 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $52.13, for a total transaction of $1,393,539.16. Following the transaction, the executive vice president now directly owns 14,733 shares of the company’s stock, valued at approximately $768,031.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William M. Rusty Rush sold 10,906 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $51.24, for a total transaction of $558,823.44. Following the transaction, the chief executive officer now directly owns 96,155 shares in the company, valued at $4,926,982.20. The disclosure for this sale can be found here. Insiders have sold a total of 73,982 shares of company stock valued at $3,747,332 over the last quarter. 11.19% of the stock is currently owned by company insiders.
Rush Enterprises Company Profile
Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.
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