Goldman Sachs Group Inc. Has $1.10 Million Stake in REV Group Inc (REVG)
Goldman Sachs Group Inc. lifted its position in REV Group Inc (NYSE:REVG) by 120.9% during the 4th quarter, Holdings Channel reports. The firm owned 33,724 shares of the company’s stock after buying an additional 18,454 shares during the quarter. Goldman Sachs Group Inc.’s holdings in REV Group were worth $1,097,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of REVG. JPMorgan Chase & Co. bought a new stake in shares of REV Group in the 3rd quarter worth about $679,000. Schwab Charles Investment Management Inc. grew its holdings in shares of REV Group by 5.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 49,295 shares of the company’s stock worth $1,418,000 after purchasing an additional 2,455 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of REV Group by 83.9% in the 3rd quarter. Stifel Financial Corp now owns 65,153 shares of the company’s stock worth $1,890,000 after purchasing an additional 29,718 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of REV Group in the 3rd quarter worth about $128,000. Finally, Peregrine Capital Management LLC grew its holdings in shares of REV Group by 17.2% in the 4th quarter. Peregrine Capital Management LLC now owns 817,447 shares of the company’s stock worth $26,592,000 after purchasing an additional 120,235 shares during the last quarter. 95.40% of the stock is currently owned by institutional investors and hedge funds.
REVG has been the topic of several analyst reports. 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 set a $36.00 price objective on shares of REV Group and gave the stock a “buy” rating in a report on Friday, February 9th. Wells Fargo lowered shares of REV Group from an “outperform” rating to a “market perform” rating and set a $26.00 price objective on the stock. in a report on Friday, March 9th. Morgan Stanley initiated coverage on shares of REV Group in a report on Friday, March 2nd. They set an “equal weight” rating and a $32.00 price objective on the stock. Finally, TheStreet lowered shares of REV Group from a “c-” rating to a “d+” rating in a report on Tuesday, April 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.29.
REV Group (NYSE:REVG) last issued its quarterly earnings data on Wednesday, March 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. REV Group had a net margin of 2.31% and a return on equity of 13.93%. The firm had revenue of $514.90 million for the quarter, compared to analyst estimates of $513.04 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The company’s revenue was up 16.3% on a year-over-year basis. analysts expect that REV Group Inc will post 1.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Monday, April 30th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, April 27th. REV Group’s dividend payout ratio is currently 63.83%.
In related news, CEO Timothy W. Sullivan acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were purchased at an average price of $22.53 per share, with a total value of $2,253,000.00. Following the acquisition, the chief executive officer now directly owns 108,620 shares in the company, valued at $2,447,208.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.00% of the stock is owned by corporate insiders.
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REV Group Company Profile
REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment offers a range of fire apparatus and ambulance products for municipal fire departments, EMS providers, and private fleets through dealers.
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