State Board of Administration of Florida Retirement System lessened its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,821 shares of the company’s stock after selling 6,100 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Rush Enterprises were worth $1,287,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. BNP Paribas Arbitrage SA increased its holdings in Rush Enterprises by 54.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 26,423 shares of the company’s stock worth $1,317,000 after purchasing an additional 9,298 shares in the last quarter. Diversified Trust Co increased its holdings in Rush Enterprises by 24.3% during the 1st quarter. Diversified Trust Co now owns 14,433 shares of the company’s stock worth $719,000 after purchasing an additional 2,824 shares in the last quarter. Aperio Group LLC increased its holdings in Rush Enterprises by 57.6% during the 4th quarter. Aperio Group LLC now owns 14,055 shares of the company’s stock worth $582,000 after purchasing an additional 5,138 shares in the last quarter. Hsbc Holdings PLC bought a new position in Rush Enterprises during the 4th quarter worth about $375,000. Finally, Canada Pension Plan Investment Board bought a new position in Rush Enterprises during the 4th quarter worth about $899,000. 72.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:RUSHA opened at $46.09 on Friday. Rush Enterprises, Inc. has a 52-week low of $24.75 and a 52-week high of $51.98. The firm has a market cap of $2.56 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.01 and a beta of 1.30. The firm has a 50-day moving average price of $49.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.36 and a quick ratio of 0.50.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Monday, May 10th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, May 7th. This represents a $0.72 annualized dividend and a yield of 1.56%. Rush Enterprises’s dividend payout ratio (DPR) is presently 35.29%.
Several equities analysts have recently weighed in on RUSHA shares. BMO Capital Markets raised their price objective on Rush Enterprises from $42.00 to $49.00 in a report on Monday, April 26th. Zacks Investment Research upgraded Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a report on Tuesday, April 27th.
Rush Enterprises Profile
Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. 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, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.
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