Illinois Municipal Retirement Fund Lowers Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Illinois Municipal Retirement Fund cut its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 6.3% during the fourth quarter, Holdings Channel reports. The firm owned 33,185 shares of the company’s stock after selling 2,245 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Rush Enterprises were worth $1,818,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Rush Enterprises by 266.1% in the third quarter. Blue Trust Inc. now owns 703 shares of the company’s stock valued at $37,000 after purchasing an additional 511 shares during the period. GAMMA Investing LLC raised its position in Rush Enterprises by 24.4% in the 4th quarter. GAMMA Investing LLC now owns 979 shares of the company’s stock valued at $54,000 after purchasing an additional 192 shares in the last quarter. Costello Asset Management INC purchased a new position in shares of Rush Enterprises in the 3rd quarter valued at about $58,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rush Enterprises in the 3rd quarter valued at about $64,000. Finally, Farther Finance Advisors LLC grew its position in shares of Rush Enterprises by 73.8% during the third quarter. Farther Finance Advisors LLC now owns 1,479 shares of the company’s stock worth $78,000 after buying an additional 628 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Insider Activity at Rush Enterprises

In other news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total value of $634,837.50. Following the transaction, the senior vice president now directly owns 3,117 shares of the company’s stock, valued at $175,892.31. The trade was a 78.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Mcroberts sold 4,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $58.52, for a total transaction of $234,080.00. Following the completion of the sale, the director now owns 15,771 shares of the company’s stock, valued at approximately $922,918.92. This trade represents a 20.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.53% of the company’s stock.

Rush Enterprises Price Performance

Rush Enterprises stock opened at $58.32 on Friday. The stock has a market cap of $4.61 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The company has a fifty day simple moving average of $58.19 and a 200-day simple moving average of $56.24. The company has a current ratio of 1.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 12-month low of $40.99 and a 12-month high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, February 18th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.09. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. Equities analysts expect 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 will be paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, March 3rd. Rush Enterprises’s payout ratio is 19.30%.

Analyst Upgrades and Downgrades

Separately, Stephens reaffirmed an “overweight” rating and issued a $69.00 target price on shares of Rush Enterprises in a report on Wednesday, February 19th.

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.