Louisiana State Employees Retirement System Has $1.58 Million Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Louisiana State Employees Retirement System trimmed its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 29,900 shares of the company’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Rush Enterprises were worth $1,580,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Rush Enterprises in the 2nd quarter worth about $36,000. Blue Trust Inc. increased its position in Rush Enterprises by 266.1% in the 3rd quarter. Blue Trust Inc. now owns 703 shares of the company’s stock worth $37,000 after purchasing an additional 511 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Rush Enterprises by 41.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock worth $41,000 after purchasing an additional 287 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Rush Enterprises in the 2nd quarter worth about $41,000. Finally, GAMMA Investing LLC increased its position in Rush Enterprises by 147.5% in the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after purchasing an additional 469 shares during the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Stock Performance

RUSHA opened at $56.58 on Friday. The company has a market cap of $4.46 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01. The stock has a 50-day moving average of $51.86 and a 200-day moving average of $48.17. Rush Enterprises, Inc. has a 52-week low of $34.98 and a 52-week high of $60.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 1.40.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. Rush Enterprises had a return on equity of 15.85% and a net margin of 3.90%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 EPS. As a group, equities research analysts forecast that Rush Enterprises, Inc. will post 3.44 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 annualized dividend and a dividend yield of 1.27%. Rush Enterprises’s dividend payout ratio (DPR) is presently 19.10%.

Insider Activity at Rush Enterprises

In related news, COO Michael Mcroberts sold 12,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was 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 in the company, valued at $771,958.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Michael Mcroberts sold 12,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was 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 in the company, valued at $771,958.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $2,152,400.00. Following the sale, the chief executive officer now owns 174,154 shares of the company’s stock, valued at approximately $9,371,226.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,875 shares of company stock worth $3,422,554 in the last 90 days. 12.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

About Rush Enterprises

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.