The Manufacturers Life Insurance Company Takes $276,000 Position in Rev Group Inc (REVG)

The Manufacturers Life Insurance Company purchased a new position in Rev Group Inc (NYSE:REVG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,952 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Rev Group by 6,218.1% in the second quarter. Royal Bank of Canada now owns 50,545 shares of the company’s stock worth $1,399,000 after purchasing an additional 49,745 shares during the period. TIAA CREF Investment Management LLC increased its stake in Rev Group by 58.7% in the second quarter. TIAA CREF Investment Management LLC now owns 33,525 shares of the company’s stock valued at $928,000 after acquiring an additional 12,394 shares during the last quarter. CIBC World Markets Inc. increased its stake in Rev Group by 100.2% in the second quarter. CIBC World Markets Inc. now owns 48,833 shares of the company’s stock valued at $1,352,000 after acquiring an additional 24,435 shares during the last quarter. Wells Fargo & Company MN increased its stake in Rev Group by 11.7% in the second quarter. Wells Fargo & Company MN now owns 721,306 shares of the company’s stock valued at $19,966,000 after acquiring an additional 75,278 shares during the last quarter. Finally, Alliancebernstein L.P. bought a new position in Rev Group in the second quarter valued at $554,000. 24.99% of the stock is currently owned by hedge funds and other institutional investors.

Rev Group Inc (NYSE REVG) traded down $0.80 during midday trading on Wednesday, reaching $26.88. 293,900 shares of the company’s stock traded hands, compared to its average volume of 328,654. The company has a quick ratio of 0.76, a current ratio of 2.04 and a debt-to-equity ratio of 0.55. Rev Group Inc has a twelve month low of $23.38 and a twelve month high of $31.60.

Rev Group (NYSE:REVG) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Rev Group had a net margin of 0.98% and a return on equity of 10.51%. The business had revenue of $595.60 million during the quarter, compared to analyst estimates of $619.57 million. Rev Group’s revenue was up 12.8% on a year-over-year basis. sell-side analysts predict that Rev Group Inc will post 0.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Tuesday, October 31st were given a dividend of $0.05 per share. The ex-dividend date was Monday, October 30th. This represents a $0.20 annualized dividend and a yield of 0.74%.

A number of research analysts recently commented on REVG shares. SunTrust Banks started coverage on Rev Group in a research note on Friday, November 17th. They issued a “buy” rating and a $33.00 target price on the stock. Zacks Investment Research raised Rev Group from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Thursday, September 14th. One 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. Rev Group presently has an average rating of “Buy” and an average price target of $32.10.

In other news, COO Thomas B. Phillips sold 10,000 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 10,000 shares in the company, valued at $267,300. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kim A. Marvin sold 40,263 shares of the stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $26.09, for a total transaction of $1,050,461.67. Following the sale, the director now owns 150,671 shares of the company’s stock, valued at $3,931,006.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,248 shares of company stock valued at $1,343,460.

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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).

Institutional Ownership by Quarter for Rev Group (NYSE:REVG)

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