IndexIQ Advisors LLC cut its position in shares of Rev Group Inc (NYSE:REVG) by 24.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,075 shares of the company’s stock after selling 23,512 shares during the period. IndexIQ Advisors LLC owned approximately 0.12% of Rev Group worth $906,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new stake in Rev Group during the third quarter valued at approximately $84,000. Strs Ohio purchased a new stake in Rev Group during the fourth quarter valued at approximately $85,000. Envestnet Asset Management Inc. purchased a new stake in Rev Group during the third quarter valued at approximately $117,000. California Public Employees Retirement System purchased a new stake in Rev Group during the third quarter valued at approximately $134,000. Finally, Aigen Investment Management LP purchased a new stake in Rev Group during the fourth quarter valued at approximately $146,000.
Shares of NYSE REVG opened at $10.16 on Friday. The business’s 50 day moving average price is $10.92 and its 200-day moving average price is $11.95. Rev Group Inc has a fifty-two week low of $8.23 and a fifty-two week high of $14.99. The company has a market cap of $636.09 million, a price-to-earnings ratio of -53.47, a PEG ratio of 1.72 and a beta of 2.95.
Rev Group (NYSE:REVG) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.08). Rev Group had a positive return on equity of 4.61% and a negative net margin of 0.52%. The business had revenue of $652.60 million during the quarter, compared to analysts’ expectations of $631.23 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts expect that Rev Group Inc will post 0.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. Rev Group’s payout ratio is 50.00%.
In other news, CFO Dean J. Nolden sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $10.66, for a total value of $53,300.00. Following the sale, the chief financial officer now directly owns 141,100 shares in the company, valued at $1,504,126. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.51% of the company’s stock.
A number of brokerages have issued reports on REVG. Deutsche Bank upped their price objective on Rev Group from $9.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Morgan Stanley downgraded Rev Group from an “equal” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a research report on Monday, December 16th. Wells Fargo & Co downgraded Rev Group from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $13.00 to $11.00 in a research report on Tuesday, January 14th. Robert W. Baird decreased their price objective on Rev Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Finally, Zacks Investment Research downgraded Rev Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Rev Group currently has a consensus rating of “Hold” and an average target price of $11.86.
About Rev Group
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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