State Board of Administration of Florida Retirement System Increases Position in Rush Enterprises, Inc. (RUSHA)

State Board of Administration of Florida Retirement System lifted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 0.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,182 shares of the company’s stock after purchasing an additional 164 shares during the period. State Board of Administration of Florida Retirement System owned 0.10% of Rush Enterprises worth $1,420,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its holdings in shares of Rush Enterprises by 153.1% in the first quarter. Ameritas Investment Partners Inc. now owns 3,796 shares of the company’s stock valued at $125,000 after purchasing an additional 2,296 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Rush Enterprises by 226.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock valued at $229,000 after purchasing an additional 4,279 shares during the period. Aperio Group LLC purchased a new stake in shares of Rush Enterprises in the second quarter valued at approximately $243,000. Cigna Investments Inc. New purchased a new stake in shares of Rush Enterprises in the second quarter valued at approximately $297,000. Finally, Koch Industries Inc. purchased a new stake in shares of Rush Enterprises in the first quarter valued at approximately $294,000. Hedge funds and other institutional investors own 75.45% of the company’s stock.

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Rush Enterprises, Inc. (NASDAQ:RUSHA) opened at 40.98 on Friday. Rush Enterprises, Inc. has a 52 week low of $21.99 and a 52 week high of $43.55. The company has a market cap of $1.63 billion, a P/E ratio of 25.87 and a beta of 1.19. The company has a 50-day moving average of $40.61 and a 200-day moving average of $36.99.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.15. Rush Enterprises had a net margin of 1.46% and a return on equity of 7.31%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.07 billion. On average, equities research analysts predict that Rush Enterprises, Inc. will post $1.79 EPS for the current year.

RUSHA has been the subject of a number of research reports. BidaskClub upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. ValuEngine raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus reissued a “hold” rating and issued a $38.00 price objective on shares of Rush Enterprises in a research note on Friday, July 28th. BMO Capital Markets reissued a “hold” rating and issued a $30.00 price objective on shares of Rush Enterprises in a research note on Friday, July 7th. Finally, Zacks Investment Research downgraded shares of Rush Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.80.

About Rush Enterprises

Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.

Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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