Neuberger Berman Group LLC Acquires New Stake 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) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 221,482 shares of the company's stock, valued at approximately $6,999,000. Neuberger Berman Group LLC owned about 0.43% of REV Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. McIlrath & Eck LLC lifted its stake in REV Group by 31.5% during the fourth quarter. McIlrath & Eck LLC now owns 1,435 shares of the company's stock worth $46,000 after purchasing an additional 344 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings 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 worth $989,000 after purchasing an additional 414 shares during the last quarter. Bank of Montreal Can increased 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 worth $261,000 after purchasing an additional 682 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of REV Group by 5.2% in the 4th quarter. Vident Advisory LLC now owns 16,348 shares of the company's stock valued at $521,000 after purchasing an additional 805 shares during the last quarter. Finally, New Age Alpha Advisors LLC lifted its holdings in shares of REV Group by 71.0% in the 1st quarter. New Age Alpha Advisors LLC now owns 2,165 shares of the company's stock valued at $68,000 after purchasing an additional 899 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on REV Group from $26.00 to $30.00 and gave the company a "sell" rating in a research note on Tuesday, May 27th. 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. DA Davidson boosted their price target on REV Group from $51.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley raised REV Group from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $33.00 to $46.00 in a research report on Wednesday, June 18th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, REV Group presently has an average rating of "Hold" and an average price target of $42.25.

REV Group Price Performance

Shares of REVG traded down $0.9350 during mid-day trading on Wednesday, hitting $50.8550. The company's stock had a trading volume of 87,654 shares, compared to its average volume of 695,591. The firm has a 50-day simple moving average of $48.08 and a 200 day simple moving average of $38.58. REV Group, Inc. has a 1-year low of $21.54 and a 1-year high of $53.74. The firm has a market capitalization of $2.48 billion, a P/E ratio of 27.05 and a beta of 1.18. The company has a current ratio of 1.66, a quick ratio of 0.53 and a debt-to-equity ratio of 0.36.

REV Group (NYSE:REVG - Get Free Report) last released its 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 company had revenue of $629.10 million during the quarter, compared to the consensus estimate of $603.51 million. During the same quarter last year, the company earned $0.39 earnings per share. REV Group's quarterly revenue was up 2.0% compared to the same quarter last year. REV Group has set its FY 2025 guidance at EPS. Analysts predict 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 was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a $0.06 dividend. The ex-dividend date was Friday, June 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. REV Group's dividend payout ratio is currently 12.77%.

Insider Buying and Selling at REV Group

In other 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 directly owned 516,446 shares of the company's stock, valued at $22,635,828.18. This trade represents a 15.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

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.