Millennium Management LLC Takes $513,000 Position in REV Group, Inc. (NYSE:REVG)

Millennium Management LLC acquired a new stake in shares of REV Group, Inc. (NYSE:REVG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,098 shares of the company's stock, valued at approximately $513,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of REV Group by 26.7% during the 4th quarter. FMR LLC now owns 7,819,739 shares of the company's stock worth $249,215,000 after acquiring an additional 1,646,293 shares during the last quarter. Vanguard Group Inc. lifted its stake in REV Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,238,928 shares of the company's stock valued at $166,965,000 after acquiring an additional 39,323 shares during the period. Invesco Ltd. raised its position in REV Group by 43.4% during the fourth quarter. Invesco Ltd. now owns 1,731,557 shares of the company's stock valued at $55,185,000 after acquiring an additional 524,369 shares in the last quarter. Geode Capital Management LLC raised its position in shares of REV Group by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 1,384,108 shares of the company's stock worth $44,121,000 after acquiring an additional 79,243 shares during the period. Finally, Brightline Capital Management LLC increased its holdings in REV Group by 1.2% in the 4th quarter. Brightline Capital Management LLC now owns 656,000 shares of the company's stock worth $20,907,000 after acquiring an additional 8,000 shares in the last quarter.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at REV Group

In related news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the business'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 value of $4,058,701.83. Following the sale, the chief executive officer now directly owns 516,446 shares in the company, valued at $22,635,828.18. The trade was a 15.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by company insiders.

REV Group Price Performance

REVG stock traded down $0.12 on Thursday, reaching $44.99. The company had a trading volume of 567,331 shares, compared to its average volume of 695,116. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.43 and a current ratio of 1.72. The company has a market cap of $2.20 billion, a P/E ratio of 10.02 and a beta of 1.12. REV Group, Inc. has a 1 year low of $21.54 and a 1 year high of $46.10. The company's fifty day moving average is $35.42 and its 200 day moving average is $33.30.

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

REV Group Announces Dividend

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

REV Group 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.