Texas Permanent School Fund Corp Lowers Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Texas Permanent School Fund Corp decreased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 14.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,105 shares of the company’s stock after selling 7,806 shares during the period. Texas Permanent School Fund Corp owned about 0.06% of Rush Enterprises worth $1,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Rush Enterprises by 352.2% during the 1st quarter. GAMMA Investing LLC now owns 520 shares of the company’s stock valued at $28,000 after buying an additional 405 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Rush Enterprises by 70.3% during the first quarter. Hexagon Capital Partners LLC now owns 695 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Rush Enterprises in the 2nd quarter valued at $41,000. Neo Ivy Capital Management bought a new position in shares of Rush Enterprises during the 4th quarter valued at $43,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Rush Enterprises in the 1st quarter worth $54,000. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Price Performance

Shares of RUSHA stock opened at $51.47 on Wednesday. Rush Enterprises, Inc. has a twelve month low of $34.68 and a twelve month high of $56.64. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.84 and a beta of 1.01. The business’s fifty day moving average is $49.87 and its 200 day moving average is $47.70. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.24.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.20. Rush Enterprises had a return on equity of 15.85% and a net margin of 3.90%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. Rush Enterprises’s quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts expect that Rush Enterprises, Inc. will post 3.44 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 13th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 13th. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.40%. Rush Enterprises’s dividend payout ratio (DPR) is 18.18%.

Insider Buying and Selling

In related news, CEO William M. Rusty Rush sold 40,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the transaction, the chief executive officer now owns 174,154 shares in the company, valued at $9,371,226.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Michael Mcroberts sold 12,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.72, for a total transaction of $634,000.00. Following the completion of the sale, the chief operating officer now owns 15,220 shares of the company’s stock, valued at approximately $771,958.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William M. Rusty Rush sold 40,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $53.81, for a total value of $2,152,400.00. Following the completion of the sale, the chief executive officer now owns 174,154 shares of the company’s stock, valued at $9,371,226.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,875 shares of company stock worth $3,422,554. 12.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Stephens assumed coverage on shares of Rush Enterprises in a report on Monday, July 8th. They issued an “overweight” rating on the stock.

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.