Massachusetts Financial Services Co. MA Sells 53,804 Shares of REV Group, Inc. (NYSE:REVG)

Massachusetts Financial Services Co. MA lessened its holdings in shares of REV Group, Inc. (NYSE:REVG) by 30.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 124,587 shares of the company’s stock after selling 53,804 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.24% of REV Group worth $3,101,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in REVG. DekaBank Deutsche Girozentrale boosted its position in shares of REV Group by 257.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 7,525 shares of the company’s stock valued at $187,000 after acquiring an additional 5,420 shares during the period. Nicholas Investment Partners LP boosted its holdings in REV Group by 4.8% in the 2nd quarter. Nicholas Investment Partners LP now owns 755,001 shares of the company’s stock valued at $18,792,000 after purchasing an additional 34,555 shares during the period. Johnson Investment Counsel Inc. grew its position in REV Group by 17.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 17,276 shares of the company’s stock worth $430,000 after purchasing an additional 2,551 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of REV Group by 50.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 18,177 shares of the company’s stock worth $452,000 after purchasing an additional 6,083 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of REV Group by 25.9% in the second quarter. American Century Companies Inc. now owns 95,661 shares of the company’s stock valued at $2,381,000 after buying an additional 19,674 shares during the period.

REV Group Stock Down 1.0 %

Shares of REVG opened at $27.61 on Friday. The business’s 50 day simple moving average is $27.98 and its 200-day simple moving average is $25.16. REV Group, Inc. has a one year low of $14.04 and a one year high of $31.85. The company has a market capitalization of $1.43 billion, a P/E ratio of 6.75 and a beta of 1.59. 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 issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.06. REV Group had a net margin of 9.92% and a return on equity of 18.69%. The business had revenue of $579.40 million for the quarter, compared to the consensus estimate of $618.70 million. During the same quarter in the prior year, the company earned $0.31 EPS. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. As a group, sell-side analysts predict that REV Group, Inc. will post 1.42 EPS for the current fiscal year.

REV Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. REV Group’s payout ratio is currently 4.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. DA Davidson restated a “buy” rating and set a $33.00 price objective on shares of REV Group in a research report on Thursday, September 5th. The Goldman Sachs Group boosted their price target on shares of REV Group from $22.00 to $25.00 and gave the company a “sell” rating in a report on Thursday, September 5th. Morgan Stanley assumed coverage on shares of REV Group in a report on Tuesday, June 11th. They set an “equal weight” rating and a $29.50 price objective for the company. Finally, StockNews.com lowered REV Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th.

REV Group Company 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.