Ellington Management Group LLC bought a new position in shares of Rev Group Inc (NYSE:REVG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,100 shares of the company’s stock, valued at approximately $394,000.
Several other hedge funds also recently added to or reduced their stakes in REVG. Envestnet Asset Management Inc. acquired a new position in Rev Group during the third quarter worth about $128,000. Virtu Financial LLC acquired a new position in Rev Group during the fourth quarter worth about $209,000. Private Advisor Group LLC acquired a new position in Rev Group during the third quarter worth about $224,000. Bluestein R H & Co. acquired a new position in Rev Group during the third quarter worth about $230,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Rev Group during the second quarter worth about $276,000. 95.40% of the stock is owned by institutional investors and hedge funds.
Rev Group Inc (NYSE:REVG) opened at $21.71 on Friday. The company has a quick ratio of 0.75, a current ratio of 2.19 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1,436.71, a PE ratio of 18.71, a price-to-earnings-growth ratio of 0.88 and a beta of 0.62. Rev Group Inc has a fifty-two week low of $21.60 and a fifty-two week high of $33.15.
Rev Group (NYSE:REVG) last posted its earnings results on Wednesday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $514.90 million for the quarter, compared to analyst estimates of $513.04 million. Rev Group had a net margin of 2.31% and a return on equity of 13.93%. Rev Group’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. equities research analysts predict that Rev Group Inc will post 1.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Monday, April 30th will be issued a $0.05 dividend. The ex-dividend date is Friday, April 27th. This represents a $0.20 annualized dividend and a yield of 0.92%. Rev Group’s payout ratio is 73.17%.
A number of equities analysts recently weighed in on REVG shares. Stifel Nicolaus boosted their price target on shares of Rev Group from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. SunTrust Banks started coverage on shares of Rev Group in a research report on Friday, November 17th. They set a “buy” rating and a $33.00 price target on the stock. Robert W. Baird set a $30.00 price target on shares of Rev Group and gave the stock a “buy” rating in a research report on Thursday, March 8th. Morgan Stanley started coverage on shares of Rev Group in a research report on Friday, March 2nd. They set an “equal weight” rating and a $32.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Rev Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $31.71.
In other news, CEO Timothy W. Sullivan bought 100,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were bought at an average cost of $22.53 per share, for a total transaction of $2,253,000.00. Following the acquisition, the chief executive officer now directly owns 108,620 shares of the company’s stock, valued at approximately $2,447,208.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.00% of the company’s stock.
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About Rev Group
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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