Two Sigma Advisers LP Acquires New Stake in REV Group Inc (REVG)
Two Sigma Advisers LP acquired a new stake in shares of REV Group Inc (NYSE:REVG) in the fourth quarter, HoldingsChannel reports. The firm acquired 12,314 shares of the company’s stock, valued at approximately $401,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Ellington Management Group LLC bought a new stake in REV Group during the fourth quarter valued at about $394,000. Goldman Sachs Group Inc. grew its holdings in REV Group by 120.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 33,724 shares of the company’s stock valued at $1,097,000 after purchasing an additional 18,454 shares during the period. Stone Ridge Asset Management LLC bought a new stake in REV Group during the fourth quarter valued at about $362,000. Deutsche Bank AG grew its holdings in REV Group by 1,077.3% during the fourth quarter. Deutsche Bank AG now owns 143,149 shares of the company’s stock valued at $4,655,000 after purchasing an additional 130,990 shares during the period. Finally, Bamco Inc. NY grew its holdings in REV Group by 19.0% during the fourth quarter. Bamco Inc. NY now owns 1,250,000 shares of the company’s stock valued at $40,662,000 after purchasing an additional 200,000 shares during the period. Institutional investors own 95.40% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research lowered REV Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 28th. SunTrust Banks boosted their price target on REV Group to $39.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Morgan Stanley assumed coverage on REV Group in a report on Friday, March 2nd. They set an “equal weight” rating and a $32.00 price target for the company. Stifel Nicolaus set a $36.00 price target on REV Group and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $32.00 price target (down previously from $36.00) on shares of REV Group in a report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, two have issued 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 price target of $31.29.
REV Group (NYSE:REVG) last released its quarterly earnings data on Wednesday, March 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $514.90 million during the quarter, compared to analyst estimates of $513.04 million. REV Group had a return on equity of 13.93% and a net margin of 2.31%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. equities research analysts predict that REV Group Inc will post 1.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Monday, April 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, April 27th. REV Group’s dividend payout ratio (DPR) is 63.83%.
In other REV Group news, CEO Timothy W. Sullivan acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was purchased at an average price of $22.53 per share, with a total value of $2,253,000.00. Following the completion of the purchase, the chief executive officer now directly owns 108,620 shares in the company, valued at approximately $2,447,208.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.
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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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