REV Group, Inc. (NYSE:REVG) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in REV Group, Inc. (NYSE:REVG) by 19.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 364,336 shares of the company’s stock after purchasing an additional 59,306 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.70% of REV Group worth $9,068,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in shares of REV Group by 16.1% during the 4th quarter. Wellington Management Group LLP now owns 490,150 shares of the company’s stock valued at $8,906,000 after buying an additional 68,047 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of REV Group during the 1st quarter valued at about $2,010,000. GSA Capital Partners LLP bought a new stake in shares of REV Group during the 1st quarter valued at about $1,049,000. Vanguard Group Inc. grew its position in shares of REV Group by 56.3% during the 1st quarter. Vanguard Group Inc. now owns 4,714,060 shares of the company’s stock valued at $104,134,000 after buying an additional 1,698,502 shares during the last quarter. Finally, Swiss National Bank grew its position in REV Group by 73.8% in the 1st quarter. Swiss National Bank now owns 101,700 shares of the company’s stock worth $2,247,000 after purchasing an additional 43,200 shares during the last quarter.

Analyst Upgrades and Downgrades

REVG has been the subject of several recent analyst reports. StockNews.com cut shares of REV Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. The Goldman Sachs Group upped their target price on shares of REV Group from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, September 5th. DA Davidson restated a “buy” rating and issued a $33.00 target price on shares of REV Group in a research report on Thursday, September 5th. Finally, Morgan Stanley began coverage on shares of REV Group in a research report on Tuesday, June 11th. They issued an “equal weight” rating and a $29.50 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, REV Group presently has an average rating of “Hold” and a consensus price target of $24.10.

REV Group Trading Up 6.0 %

Shares of NYSE:REVG opened at $26.44 on Tuesday. The company has a 50 day moving average of $27.53 and a 200-day moving average of $24.74. The firm has a market cap of $1.37 billion, a P/E ratio of 6.46 and a beta of 1.59. REV Group, Inc. has a twelve month low of $12.88 and a twelve month high of $31.85. The company has a current ratio of 1.85, a quick ratio of 0.57 and a debt-to-equity ratio of 0.54.

REV Group (NYSE:REVG) last issued 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. REV Group had a net margin of 9.92% and a return on equity of 18.69%. The company had revenue of $579.40 million during the quarter, compared to analyst estimates of $618.70 million. During the same period in the prior year, the business posted $0.31 EPS. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year. As a group, analysts anticipate that REV Group, Inc. will post 1.45 earnings per share for the current fiscal year.

REV Group Dividend Announcement

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

About REV Group

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.