State of New Jersey Common Pension Fund D Cuts Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

State of New Jersey Common Pension Fund D decreased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 14.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,842 shares of the company’s stock after selling 5,992 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Rush Enterprises were worth $1,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cooke & Bieler LP lifted its holdings in shares of Rush Enterprises by 10.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock worth $45,752,000 after acquiring an additional 100,318 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Rush Enterprises by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,047,905 shares of the company’s stock worth $43,875,000 after buying an additional 63,413 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Rush Enterprises by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 427,553 shares of the company’s stock worth $22,883,000 after buying an additional 9,397 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Rush Enterprises by 0.5% in the 2nd quarter. Natixis Advisors LLC now owns 201,231 shares of the company’s stock worth $8,426,000 after buying an additional 907 shares during the last quarter. Finally, Denali Advisors LLC grew its position in Rush Enterprises by 42.9% during the 2nd quarter. Denali Advisors LLC now owns 148,785 shares of the company’s stock worth $6,230,000 after purchasing an additional 44,700 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens raised their price objective on shares of Rush Enterprises from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st.

Rush Enterprises Stock Performance

Shares of RUSHA opened at $60.66 on Monday. Rush Enterprises, Inc. has a 12-month low of $38.10 and a 12-month high of $65.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The business’s fifty day moving average price is $54.04 and its 200 day moving average price is $49.30. The stock has a market capitalization of $4.78 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.29 and a beta of 0.99.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the company posted $0.96 EPS. Rush Enterprises’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts forecast that Rush Enterprises, Inc. will post 3.45 EPS for the current year.

Rush Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.19%. Rush Enterprises’s payout ratio is currently 19.10%.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, CEO William M. Rusty Rush sold 117,500 shares of Rush Enterprises stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total value of $7,517,650.00. Following the completion of the transaction, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at $11,142,372.92. The trade was a 40.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven L. Keller sold 43,875 shares of Rush Enterprises stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total value of $2,793,960.00. Following the completion of the transaction, the chief financial officer now directly owns 83,365 shares of the company’s stock, valued at $5,308,683.20. This represents a 34.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,500 shares of company stock worth $13,552,133. 12.53% of the stock is owned by insiders.

Rush Enterprises Company 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.