Alliancebernstein L.P. bought a new position in Rev Group Inc (NASDAQ:REVG) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 20,000 shares of the company’s stock, valued at approximately $554,000.
A number of other hedge funds and other institutional investors have also modified their holdings of REVG. Bank of New York Mellon Corp purchased a new position in Rev Group in the first quarter worth about $1,129,000. JPMorgan Chase & Co. bought a new stake in shares of Rev Group in the first quarter worth approximately $225,000. TIAA CREF Investment Management LLC bought a new stake in shares of Rev Group in the first quarter worth approximately $583,000. Vanguard Group Inc. bought a new stake in Rev Group during the first quarter valued at approximately $31,542,000. Finally, Geode Capital Management LLC bought a new stake in Rev Group during the first quarter valued at approximately $2,592,000.
Separately, Zacks Investment Research raised shares of Rev Group from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Rev Group currently has a consensus rating of “Buy” and an average price target of $32.00.
Rev Group Inc (REVG) opened at $25.05 on Monday. Rev Group Inc has a 1-year low of $23.55 and a 1-year high of $31.60.
Rev Group (NASDAQ:REVG) last issued its earnings results on Thursday, September 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Rev Group had a net margin of 2.55% and a return on equity of 11.25%. The company had revenue of $595.60 million for the quarter, compared to analysts’ expectations of $619.57 million. Rev Group’s revenue was up 12.8% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Monday, October 30th.
In related 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 transaction, the director now directly owns 3,205 shares of the company’s stock, valued at approximately $83,618.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas B. Phillips sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $26.73, for a total transaction of $267,300.00. Following the completion of the transaction, the chief operating officer now directly owns 10,000 shares of the company’s stock, valued at $267,300. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,248 shares of company stock valued at $1,343,460.
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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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