Bank of America Corp DE Cuts Holdings in REV Group, Inc. (NYSE:REVG)

Bank of America Corp DE cut its holdings in REV Group, Inc. (NYSE:REVG - Free Report) by 63.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,175 shares of the company's stock after selling 51,787 shares during the quarter. Bank of America Corp DE owned 0.06% of REV Group worth $962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new position in REV Group in the 4th quarter valued at approximately $40,000. Pictet Asset Management Holding SA bought a new position in REV Group in the 4th quarter valued at approximately $202,000. Cerity Partners LLC bought a new position in REV Group in the 4th quarter valued at approximately $205,000. Mercer Global Advisors Inc. ADV bought a new position in REV Group in the 4th quarter valued at approximately $226,000. Finally, RD Lewis Holdings Inc. bought a new position in REV Group in the 4th quarter valued at approximately $228,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on REVG shares. DA Davidson upped their price objective on REV Group from $39.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Wall Street Zen upgraded shares of REV Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. The Goldman Sachs Group boosted their target price on shares of REV Group from $26.00 to $30.00 and gave the company a "sell" rating in a research note on Tuesday, May 27th. Finally, Morgan Stanley lowered shares of REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 target price for the company. in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $38.00.

REV Group Stock Performance

Shares of NYSE:REVG traded up $0.20 during midday trading on Wednesday, hitting $45.10. The company had a trading volume of 693,036 shares, compared to its average volume of 695,627. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 10.05 and a beta of 1.12. REV Group, Inc. has a 12-month low of $21.54 and a 12-month high of $46.10. The company has a fifty day moving average of $35.42 and a two-hundred day moving average of $33.30.

REV Group (NYSE:REVG - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.57 by $0.13. REV Group had a return on equity of 17.74% and a net margin of 10.82%. The firm had revenue of $629.10 million during the quarter, compared to analyst estimates of $603.51 million. During the same period in the prior year, the business posted $0.39 EPS. REV Group's revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that REV Group, Inc. will post 2.12 EPS for the current fiscal year.

REV Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.06 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.53%. REV Group's payout ratio is presently 12.77%.

Insiders Place Their Bets

In other news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $43.83, for a total transaction of $4,058,701.83. Following the completion of the transaction, the chief executive officer now owns 516,446 shares in the company, valued at $22,635,828.18. This trade represents a 15.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

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.