Bluestein R H & Co. Takes $230,000 Position in Rev Group Inc (REVG)
Bluestein R H & Co. bought a new stake in shares of Rev Group Inc (NYSE:REVG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,000 shares of the company’s stock, valued at approximately $230,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Argent Capital Management LLC purchased a new position in shares of Rev Group during the 2nd quarter valued at $2,581,000. Royal Bank of Canada lifted its stake in shares of Rev Group by 6,218.1% during the 2nd quarter. Royal Bank of Canada now owns 50,545 shares of the company’s stock valued at $1,399,000 after buying an additional 49,745 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Rev Group by 58.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 33,525 shares of the company’s stock valued at $928,000 after buying an additional 12,394 shares in the last quarter. CIBC World Markets Inc. lifted its stake in shares of Rev Group by 100.2% during the 2nd quarter. CIBC World Markets Inc. now owns 48,833 shares of the company’s stock valued at $1,352,000 after buying an additional 24,435 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Rev Group by 11.7% during the 2nd quarter. Wells Fargo & Company MN now owns 721,306 shares of the company’s stock valued at $19,966,000 after buying an additional 75,278 shares in the last quarter. Institutional investors own 24.99% of the company’s stock.
In other news, Director Kim A. Marvin sold 40,263 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $26.09, for a total value of $1,050,461.67. Following the sale, the director now directly owns 150,671 shares in the company, valued at approximately $3,931,006.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Thomas B. Phillips sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $26.73, for a total transaction of $267,300.00. Following the completion of the sale, the chief operating officer now owns 10,000 shares in the company, valued at $267,300. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,248 shares of company stock worth $1,343,460.
Rev Group (NYSE:REVG) last announced its quarterly earnings results on Thursday, September 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $619.57 million. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. equities analysts forecast that Rev Group Inc will post 0.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Tuesday, October 31st were issued a $0.05 dividend. The ex-dividend date was Monday, October 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.74%.
A number of research analysts recently weighed in on REVG shares. SunTrust Banks started coverage on shares of Rev Group in a research note on Friday, November 17th. They set a “buy” rating and a $33.00 target price on the stock. Zacks Investment Research downgraded shares of Rev Group from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.10.
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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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