Neuberger Berman Group LLC Acquires New Shares in REV Group, Inc. $REVG

Key Points

• Neuberger Berman Group LLC has invested $6.99 million by purchasing 221,482 shares of REV Group, Inc., representing about 0.43% ownership in the company.
• REV Group recently received positive ratings updates from brokerages, with Morgan Stanley upgrading it from "underweight" to "equal weight" and raising the price target to $46.00.
• The company reported quarterly earnings of $0.70 per share, exceeding analysts' expectations, and had a revenue of $629.1 million for the quarter, up 2.0% year-over-year.

Neuberger Berman Group LLC acquired a new stake in REV Group, Inc. (NYSE:REVG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 221,482 shares of the company's stock, valued at approximately $6,999,000. Neuberger Berman Group LLC owned 0.43% of REV Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. McIlrath & Eck LLC boosted its position in shares of REV Group by 31.5% during the fourth quarter. McIlrath & Eck LLC now owns 1,435 shares of the company's stock valued at $46,000 after buying an additional 344 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of REV Group by 1.3% during the first quarter. SummerHaven Investment Management LLC now owns 31,303 shares of the company's stock valued at $989,000 after buying an additional 414 shares during the last quarter. Bank of Montreal Can boosted its position in shares of REV Group by 9.1% during the fourth quarter. Bank of Montreal Can now owns 8,182 shares of the company's stock valued at $261,000 after buying an additional 682 shares during the last quarter. Vident Advisory LLC boosted its position in shares of REV Group by 5.2% during the fourth quarter. Vident Advisory LLC now owns 16,348 shares of the company's stock valued at $521,000 after buying an additional 805 shares during the last quarter. Finally, New Age Alpha Advisors LLC boosted its position in shares of REV Group by 71.0% during the first quarter. New Age Alpha Advisors LLC now owns 2,165 shares of the company's stock valued at $68,000 after buying an additional 899 shares during the last quarter.

REV Group Stock Performance

Shares of NYSE REVG traded down $0.8830 during trading on Wednesday, reaching $50.9070. 583,129 shares of the stock traded hands, compared to its average volume of 597,204. REV Group, Inc. has a 52-week low of $21.54 and a 52-week high of $53.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.66 and a quick ratio of 0.53. The company has a 50-day moving average of $48.20 and a 200-day moving average of $38.66. The stock has a market capitalization of $2.48 billion, a P/E ratio of 27.08 and a beta of 1.18.

REV Group (NYSE:REVG - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.13. REV Group had a return on equity of 23.99% and a net margin of 4.16%.The firm had revenue of $629.10 million for the quarter, compared to analysts' expectations of $603.51 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. REV Group has set its FY 2025 guidance at EPS. Analysts forecast that REV Group, Inc. will post 2.12 EPS for the current fiscal year.

REV Group Dividend Announcement

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

Insider Activity at REV Group

In other news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the company's stock in a transaction on 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 transaction, the chief executive officer owned 516,446 shares of the company's stock, valued at $22,635,828.18. This represents a 15.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on REVG. The Goldman Sachs Group lifted their target price on REV Group from $26.00 to $30.00 and gave the company a "sell" rating in a research report on Tuesday, May 27th. Wall Street Zen raised REV Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Morgan Stanley raised REV Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $33.00 to $46.00 in a research report on Wednesday, June 18th. Finally, DA Davidson boosted their price objective on REV Group from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, REV Group presently has a consensus rating of "Hold" and a consensus price target of $42.25.

About REV Group

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.