Bank of America Corp DE cut its holdings in Rev Group Inc (NYSE:REVG) by 39.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 194,108 shares of the company’s stock after selling 127,113 shares during the period. Bank of America Corp DE owned 0.30% of Rev Group worth $3,301,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can raised its position in Rev Group by 271.7% in the second quarter. Bank of Montreal Can now owns 11,947 shares of the company’s stock worth $204,000 after acquiring an additional 8,733 shares during the period. Dynamic Technology Lab Private Ltd raised its position in Rev Group by 79.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 14,695 shares of the company’s stock worth $305,000 after acquiring an additional 6,507 shares during the period. The Manufacturers Life Insurance Company raised its position in Rev Group by 26.5% in the first quarter. The Manufacturers Life Insurance Company now owns 23,664 shares of the company’s stock worth $491,000 after acquiring an additional 4,954 shares during the period. NJ State Employees Deferred Compensation Plan bought a new position in Rev Group in the second quarter worth approximately $544,000. Finally, Thompson Investment Management Inc. raised its position in Rev Group by 72.3% in the second quarter. Thompson Investment Management Inc. now owns 37,650 shares of the company’s stock worth $640,000 after acquiring an additional 15,800 shares during the period.
Shares of NYSE REVG opened at $11.75 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.26 and a quick ratio of 0.77. The firm has a market capitalization of $742.54 million, a PE ratio of 10.22, a PEG ratio of 1.30 and a beta of 2.42. Rev Group Inc has a 1 year low of $10.19 and a 1 year high of $33.15.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, October 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.70%. Rev Group’s dividend payout ratio (DPR) is presently 21.28%.
Several research analysts have weighed in on the stock. Morgan Stanley set a $17.00 price target on shares of Rev Group and gave the stock a “hold” rating in a research report on Friday, October 26th. Stifel Nicolaus downgraded shares of Rev Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $18.00 to $17.00 in a research report on Monday, October 1st. Credit Suisse Group decreased their price target on shares of Rev Group from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, September 7th. MED assumed coverage on shares of Rev Group in a research report on Wednesday, September 5th. They issued a “hold” rating and a $16.00 price target on the stock. Finally, Deutsche Bank reiterated a “hold” rating and issued a $16.00 price target on shares of Rev Group in a research report on Wednesday, September 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.67.
Rev Group 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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