Maryland State Retirement & Pension System Trims Stock Position in Rush Enterprises, Inc. $RUSHA

Maryland State Retirement & Pension System decreased its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 51.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,805 shares of the company’s stock after selling 9,180 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Rush Enterprises were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EULAV Asset Management grew its position in shares of Rush Enterprises by 17.1% during the 3rd quarter. EULAV Asset Management now owns 276,100 shares of the company’s stock valued at $14,763,000 after acquiring an additional 40,378 shares during the period. Ritholtz Wealth Management raised its holdings in Rush Enterprises by 5.5% in the 3rd quarter. Ritholtz Wealth Management now owns 9,196 shares of the company’s stock worth $492,000 after purchasing an additional 478 shares during the period. Oliver Luxxe Assets LLC lifted its position in Rush Enterprises by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 39,907 shares of the company’s stock valued at $2,134,000 after purchasing an additional 1,131 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Rush Enterprises by 8.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company’s stock valued at $159,000 after purchasing an additional 219 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Rush Enterprises by 399.5% during the third quarter. SG Americas Securities LLC now owns 16,495 shares of the company’s stock valued at $882,000 after purchasing an additional 13,193 shares during the period. 84.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on RUSHA. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 8th. Finally, Stephens dropped their target price on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Rush Enterprises Stock Down 3.2%

Shares of NASDAQ RUSHA opened at $63.08 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $66.11. The firm’s 50-day moving average price is $55.85 and its 200-day moving average price is $54.48. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 0.80 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Rush Enterprises had a return on equity of 12.52% and a net margin of 3.57%. On average, equities research analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Wednesday, November 12th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, November 12th. Rush Enterprises’s dividend payout ratio is currently 22.55%.

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.