Jane Street Group LLC acquired a new stake in shares of Rev Group Inc (NYSE:REVG) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 47,471 shares of the company’s stock, valued at approximately $684,000. Jane Street Group LLC owned approximately 0.08% of Rev Group as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can grew its position in Rev Group by 211.1% in the first quarter. Bank of Montreal Can now owns 3,883 shares of the company’s stock valued at $43,000 after acquiring an additional 2,635 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Rev Group by 238.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,727 shares of the company’s stock valued at $74,000 after purchasing an additional 4,740 shares during the last quarter. Swiss National Bank increased its stake in shares of Rev Group by 4.2% in the 2nd quarter. Swiss National Bank now owns 52,500 shares of the company’s stock valued at $757,000 after purchasing an additional 2,100 shares during the last quarter. CNA Financial Corp increased its stake in shares of Rev Group by 38.4% in the 1st quarter. CNA Financial Corp now owns 105,669 shares of the company’s stock valued at $1,157,000 after purchasing an additional 29,336 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Rev Group by 64.9% in the 1st quarter. First Trust Advisors LP now owns 170,323 shares of the company’s stock valued at $1,865,000 after purchasing an additional 67,052 shares during the last quarter.
In other Rev Group news, CEO Timothy W. Sullivan acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $9.58 per share, with a total value of $479,000.00. Following the transaction, the chief executive officer now directly owns 1,853,160 shares in the company, valued at approximately $17,753,272.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Dean J. Nolden acquired 9,158 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $10.87 per share, with a total value of $99,547.46. Following the transaction, the chief financial officer now owns 104,525 shares in the company, valued at $1,136,186.75. The disclosure for this purchase can be found here. 3.71% of the stock is owned by insiders.
Rev Group (NYSE:REVG) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.23). The firm had revenue of $617.00 million for the quarter, compared to the consensus estimate of $632.44 million. Rev Group had a positive return on equity of 7.09% and a negative net margin of 1.05%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, equities research analysts expect that Rev Group Inc will post 0.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, October 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, October 29th. Rev Group’s dividend payout ratio is 19.42%.
Several brokerages have recently issued reports on REVG. Zacks Investment Research lowered Rev Group from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Wells Fargo & Co decreased their price target on Rev Group from $14.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, September 6th. Morgan Stanley decreased their price target on Rev Group from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, September 6th. BMO Capital Markets lowered Rev Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $12.00 to $11.00 in a research report on Friday, September 27th. Finally, Goldman Sachs Group lowered Rev Group from a “neutral” rating to a “sell” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $10.22.
Rev Group Company Profile
REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, Latin America, the Caribbean, 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 municipalities and private contractors.
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