First Trust Advisors LP Buys New Holdings in REV Group, Inc. (REVG)
First Trust Advisors LP bought a new position in shares of REV Group, Inc. (NYSE:REVG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 188,861 shares of the company’s stock, valued at approximately $5,432,000. First Trust Advisors LP owned approximately 0.30% of REV Group as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. lifted its position in shares of REV Group by 345.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 621,025 shares of the company’s stock valued at $17,190,000 after acquiring an additional 481,750 shares in the last quarter. Argent Capital Management LLC purchased a new stake in shares of REV Group in the 2nd quarter valued at approximately $2,581,000. Bank of New York Mellon Corp purchased a new stake in shares of REV Group in the 1st quarter valued at approximately $1,129,000. CIBC World Markets Inc. lifted its position in shares of REV Group by 100.2% in the 2nd quarter. CIBC World Markets Inc. now owns 48,833 shares of the company’s stock valued at $1,352,000 after acquiring an additional 24,435 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position 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 valued at $19,966,000 after acquiring an additional 75,278 shares in the last quarter. Hedge funds and other institutional investors own 23.71% of the company’s stock.
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Shares of REV Group, Inc. (NYSE REVG) opened at $24.27 on Friday. REV Group, Inc. has a 12-month low of $23.38 and a 12-month high of $31.60. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.04 and a quick ratio of 0.76.
REV Group (NYSE:REVG) last released its earnings results on Thursday, September 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. REV Group had a net margin of 0.98% and a return on equity of 10.51%. The company had revenue of $595.60 million during the quarter, compared to the consensus estimate of $619.57 million. The company’s revenue was up 12.8% on a year-over-year basis. equities research analysts expect that REV Group, Inc. will post 0.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, October 31st will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%.
In other REV Group news, Director Joel M. Rotroff sold 985 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $26.09, for a total value of $25,698.65. Following the completion of the sale, the director now owns 3,205 shares in the company, valued at approximately $83,618.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kim A. Marvin sold 40,263 shares of the stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $26.09, for a total transaction of $1,050,461.67. Following the completion of the sale, the director now owns 150,671 shares of the company’s stock, valued at approximately $3,931,006.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,248 shares of company stock valued at $1,343,460.
Separately, Zacks Investment Research upgraded shares of REV Group from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $32.00.
REV Group 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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