JPMorgan Chase & Co. purchased a new stake in Rev Group Inc (NYSE:REVG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,650 shares of the company’s stock, valued at approximately $679,000.
Other institutional investors have also made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Rev Group by 92.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,840 shares of the company’s stock worth $1,297,000 after purchasing an additional 22,466 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Rev Group in the 2nd quarter worth about $402,000. Bank of New York Mellon Corp grew its holdings in shares of Rev Group by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 42,565 shares of the company’s stock worth $1,178,000 after purchasing an additional 1,592 shares during the last quarter. Swiss National Bank bought a new stake in shares of Rev Group in the 2nd quarter worth about $587,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Rev Group by 11.7% in the 2nd quarter. Wells Fargo & Company MN now owns 721,306 shares of the company’s stock worth $19,966,000 after purchasing an additional 75,278 shares during the last quarter. 24.98% of the stock is currently owned by hedge funds and other institutional investors.
Rev Group Inc (NYSE REVG) opened at $31.69 on Tuesday. The stock has a market cap of $2,030.00 and a PE ratio of 67.43. The company has a current ratio of 1.77, a quick ratio of 0.67 and a debt-to-equity ratio of 0.40. Rev Group Inc has a 52-week low of $23.38 and a 52-week high of $33.15.
Rev Group (NYSE:REVG) last issued its quarterly earnings results on Tuesday, December 19th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.01). The company had revenue of $683.90 million for the quarter, compared to analyst estimates of $705.73 million. Rev Group had a return on equity of 12.17% and a net margin of 1.38%. The company’s revenue for the quarter was up 25.5% on a year-over-year basis. analysts forecast that Rev Group Inc will post 1.69 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, January 26th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, January 25th. This represents a $0.60 annualized dividend and a yield of 1.89%. Rev Group’s dividend payout ratio (DPR) is 127.66%.
In other Rev Group news, Director Joel M. Rotroff sold 985 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $26.09, for a total transaction of $25,698.65. Following the transaction, the director now directly owns 3,205 shares in the company, valued at approximately $83,618.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Rev Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 28th. Stifel Nicolaus upped their target price on shares of Rev Group from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Finally, SunTrust Banks began coverage on shares of Rev Group in a report on Friday, November 17th. They issued a “buy” rating and a $33.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $33.10.
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Rev Group Company Profile
REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).
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