The Manufacturers Life Insurance Company Cuts Stock Position in REV Group, Inc. (NYSE:REVG)

The Manufacturers Life Insurance Company trimmed its position in shares of REV Group, Inc. (NYSE:REVG) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,766 shares of the company’s stock after selling 1,504 shares during the period. The Manufacturers Life Insurance Company’s holdings in REV Group were worth $321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its holdings in REV Group by 1.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 46,279 shares of the company’s stock valued at $408,000 after purchasing an additional 874 shares in the last quarter. Barclays PLC grew its holdings in REV Group by 10.0% during the 4th quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $335,000 after purchasing an additional 3,452 shares in the last quarter. Citigroup Inc. grew its holdings in REV Group by 321.8% during the 4th quarter. Citigroup Inc. now owns 6,820 shares of the company’s stock valued at $60,000 after purchasing an additional 5,203 shares in the last quarter. Rhumbline Advisers grew its holdings in REV Group by 12.8% during the 4th quarter. Rhumbline Advisers now owns 47,263 shares of the company’s stock valued at $416,000 after purchasing an additional 5,381 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in REV Group by 28.4% during the 4th quarter. JPMorgan Chase & Co. now owns 44,501 shares of the company’s stock valued at $392,000 after purchasing an additional 9,833 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

REVG has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of REV Group from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, March 16th. TheStreet raised shares of REV Group from a “d+” rating to a “c-” rating in a report on Thursday, March 4th. Morgan Stanley raised their price objective on shares of REV Group from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday. Robert W. Baird raised their price objective on shares of REV Group from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets raised their price objective on shares of REV Group from $10.00 to $19.00 and gave the stock a “market perform” rating in a report on Friday, March 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.17.

In other news, CEO Rodney M. Rushing acquired 16,750 shares of the business’s stock in a transaction that occurred on Monday, March 29th. The shares were purchased at an average cost of $17.98 per share, for a total transaction of $301,165.00. Following the transaction, the chief executive officer now directly owns 948,995 shares in the company, valued at approximately $17,062,930.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.79% of the company’s stock.

NYSE REVG opened at $16.00 on Friday. REV Group, Inc. has a one year low of $5.10 and a one year high of $22.23. The firm has a 50-day simple moving average of $18.77. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.93 and a quick ratio of 0.61. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -47.06 and a beta of 2.71.

REV Group (NYSE:REVG) last posted its quarterly earnings results on Sunday, June 6th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.19. REV Group had a negative net margin of 0.93% and a positive return on equity of 3.24%. Equities research analysts expect that REV Group, Inc. will post 0.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Wednesday, June 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $0.20 annualized dividend and a yield of 1.25%.

REV Group Company Profile

REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, the Latin America, the Caribbean, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment offers various fire apparatus and ambulance products for municipalities and private contractors.

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

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