Nicholas Investment Partners LP Raises Holdings in REV Group, Inc. (NYSE:REVG)

Nicholas Investment Partners LP grew its stake in REV Group, Inc. (NYSE:REVG) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 755,001 shares of the company’s stock after acquiring an additional 34,555 shares during the period. REV Group accounts for 1.9% of Nicholas Investment Partners LP’s holdings, making the stock its 5th biggest holding. Nicholas Investment Partners LP owned about 1.45% of REV Group worth $18,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System purchased a new position in shares of REV Group in the 1st quarter valued at $63,000. CWM LLC boosted its position in shares of REV Group by 525.6% in the 2nd quarter. CWM LLC now owns 4,010 shares of the company’s stock worth $100,000 after purchasing an additional 3,369 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of REV Group in the 4th quarter worth $187,000. Sandia Investment Management LP acquired a new stake in shares of REV Group in the 1st quarter worth $221,000. Finally, SG Americas Securities LLC acquired a new stake in shares of REV Group in the 1st quarter worth $253,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on REVG. DA Davidson reissued a “buy” rating and issued a $33.00 price objective on shares of REV Group in a research report on Thursday, September 5th. StockNews.com cut REV Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. The Goldman Sachs Group lifted their price target on REV Group from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Finally, Morgan Stanley assumed coverage on REV Group in a research report on Tuesday, June 11th. They set an “equal weight” rating and a $29.50 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.10.

REV Group Trading Up 1.3 %

Shares of REV Group stock opened at $26.35 on Thursday. REV Group, Inc. has a 1-year low of $12.88 and a 1-year high of $31.85. The stock has a market cap of $1.37 billion, a P/E ratio of 6.44 and a beta of 1.59. The stock’s 50 day simple moving average is $27.55 and its 200-day simple moving average is $24.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.85 and a quick ratio of 0.57.

REV Group (NYSE:REVG) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $579.40 million during the quarter, compared to analysts’ expectations of $618.70 million. REV Group had a return on equity of 18.69% and a net margin of 9.92%. The company’s revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. Analysts predict that REV Group, Inc. will post 1.45 EPS for the current fiscal year.

REV Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.05 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.20 annualized dividend and a yield of 0.76%. REV Group’s dividend payout ratio (DPR) is presently 4.89%.

REV Group Profile

REV Group, Inc, together with its subsidiaries, designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Canada, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment provides fire apparatus equipment under the Emergency One, Kovatch Mobile Equipment, Ferrara, Spartan Emergency Response, Smeal, Spartan Fire Chassis, and Ladder Tower brand names; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brand names.