Picton Mahoney Asset Management Makes New Investment in REV Group, Inc. $REVG

Picton Mahoney Asset Management purchased a new stake in shares of REV Group, Inc. (NYSE:REVG) in the third quarter, HoldingsChannel reports. The institutional investor purchased 16,294 shares of the company’s stock, valued at approximately $923,000.

Several other hedge funds also recently modified their holdings of REVG. Smartleaf Asset Management LLC raised its stake in shares of REV Group by 298.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 546 shares of the company’s stock worth $31,000 after buying an additional 409 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in REV Group during the second quarter valued at about $38,000. Covestor Ltd boosted its stake in REV Group by 22,600.0% during the third quarter. Covestor Ltd now owns 681 shares of the company’s stock valued at $39,000 after buying an additional 678 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in REV Group by 19.1% during the third quarter. Farther Finance Advisors LLC now owns 1,131 shares of the company’s stock worth $64,000 after acquiring an additional 181 shares during the period. Finally, AlphaQuest LLC grew its holdings in REV Group by 5,215.4% during the second quarter. AlphaQuest LLC now owns 1,382 shares of the company’s stock worth $66,000 after acquiring an additional 1,356 shares during the period.

Analyst Ratings Changes

A number of brokerages have weighed in on REVG. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price target (down from $64.00) on shares of REV Group in a report on Monday, December 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of REV Group in a report on Wednesday, December 24th. Finally, Zacks Research raised shares of REV Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, REV Group presently has an average rating of “Hold” and an average price target of $49.25.

REV Group Stock Performance

Shares of REVG opened at $63.90 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.10. REV Group, Inc. has a 1-year low of $26.51 and a 1-year high of $69.92. The stock has a market capitalization of $3.12 billion, a P/E ratio of 33.46 and a beta of 1.14. The business’s 50-day moving average price is $64.80 and its 200 day moving average price is $59.31.

REV Group (NYSE:REVG) last announced its earnings results on Wednesday, December 10th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.78 by $0.05. The company had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $646.77 million. REV Group had a net margin of 3.86% and a return on equity of 31.67%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. Analysts expect that REV Group, Inc. will post 2.12 earnings per share for the current year.

REV Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, December 24th. REV Group’s payout ratio is presently 12.57%.

REV Group Company Profile

REV Group, Inc (NYSE: REVG) is a diversified manufacturer of specialty vehicles serving public safety, healthcare, transportation and recreation markets. The company designs, engineers and produces a broad range of products, including fire and emergency apparatus, transit and shuttle buses, work trucks, ambulances and recreational vehicles. Through its integrated platform, REV Group combines engineering expertise with customer-focused assembly to deliver purpose-built solutions that meet the exact specifications of fleet operators, municipalities and individual consumers.

The company’s product portfolio is organized into three primary segments.