Meeder Asset Management Inc. Has $130,000 Stake in REV Group, Inc. (NYSE:REVG)

Key Points

• Meeder Asset Management Inc. significantly reduced its stake in REV Group, Inc. by 82.3%, selling 19,074 shares and retaining only 4,116 shares valued at $130,000.
• REV Group's recent earnings report showed a profit of $0.70 per share, surpassing estimates, with a quarterly revenue of $629.1 million, signaling a 2.0% increase from the previous year.
• Analysts have mixed ratings for REV Group, with a recent upgrade from Morgan Stanley to an "equal weight" rating and a price target increase to $46.00, while maintaining an average target price of $42.25.

Meeder Asset Management Inc. trimmed its holdings in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 82.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,116 shares of the company's stock after selling 19,074 shares during the period. Meeder Asset Management Inc.'s holdings in REV Group were worth $130,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. KBC Group NV acquired a new stake in REV Group in the 1st quarter valued at about $33,000. New Age Alpha Advisors LLC acquired a new stake in shares of REV Group during the 4th quarter worth approximately $40,000. McIlrath & Eck LLC grew its position in shares of REV Group by 31.5% during the 4th quarter. McIlrath & Eck LLC now owns 1,435 shares of the company's stock worth $46,000 after buying an additional 344 shares during the period. Pictet Asset Management Holding SA acquired a new stake in shares of REV Group during the 4th quarter worth approximately $202,000. Finally, Cerity Partners LLC acquired a new stake in shares of REV Group during the 4th quarter worth approximately $205,000.

REV Group Price Performance

Shares of REVG stock traded down $1.28 on Friday, reaching $48.27. The company had a trading volume of 603,544 shares, compared to its average volume of 603,842. The stock has a market capitalization of $2.36 billion, a PE ratio of 25.68 and a beta of 1.18. The company has a quick ratio of 0.53, a current ratio of 1.66 and a debt-to-equity ratio of 0.36. REV Group, Inc. has a one year low of $21.54 and a one year high of $50.34. The business's 50-day moving average is $45.43 and its 200 day moving average is $37.19.

REV Group (NYSE:REVG - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.13. The business had revenue of $629.10 million during the quarter, compared to analyst estimates of $603.51 million. REV Group had a net margin of 4.16% and a return on equity of 23.99%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. Equities research analysts forecast that REV Group, Inc. will post 2.12 EPS for the current fiscal year.

REV Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. REV Group's payout ratio is currently 12.77%.

Insider Buying and Selling at REV Group

In other REV Group news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were 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 owned 516,446 shares in the company, valued at approximately $22,635,828.18. This trade represents a 15.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

REVG has been the subject of several analyst reports. Wall Street Zen upgraded shares of REV Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. DA Davidson lifted their price target on shares of REV Group from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group lifted their price objective on shares of REV Group from $26.00 to $30.00 and gave the stock a "sell" rating in a research note on Tuesday, May 27th. Finally, Morgan Stanley raised shares of REV Group from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $33.00 to $46.00 in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, REV Group currently has a consensus rating of "Moderate Buy" and an average target price of $42.25.

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.