Perpetual Ltd Takes Position in REV Group, Inc. $REVG

Key Points

• Perpetual Ltd has acquired a new stake in REV Group, Inc., purchasing 6,782 shares valued at approximately $323,000 during the second quarter.
• REV Group reported earnings of $0.79 EPS for the last quarter, beating analysts' expectations and showing an 11.3% year-over-year revenue growth.
• The company has declared a quarterly dividend of $0.06 per share, which will be paid on October 10th, 2023, reflecting a 0.4% yield.

Perpetual Ltd acquired a new stake in REV Group, Inc. (NYSE:REVG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,782 shares of the company's stock, valued at approximately $323,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV purchased a new position in shares of REV Group in the first quarter valued at approximately $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of REV Group in the first quarter valued at approximately $54,000. New Age Alpha Advisors LLC boosted its stake in shares of REV Group by 71.0% in the first 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 period. Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of REV Group in the second quarter valued at approximately $193,000. Finally, Longboard Asset Management LP purchased a new position in shares of REV Group in the second quarter valued at approximately $221,000.

REV Group Stock Performance

Shares of REV Group stock opened at $58.82 on Monday. The firm's fifty day simple moving average is $53.04 and its 200-day simple moving average is $42.74. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 27.75 and a beta of 1.15. REV Group, Inc. has a 12 month low of $25.76 and a 12 month high of $64.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 0.53.

REV Group (NYSE:REVG - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.16. The business had revenue of $644.90 million for the quarter, compared to analysts' expectations of $613.24 million. REV Group had a net margin of 4.51% and a return on equity of 27.25%. The company's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. REV Group has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that REV Group, Inc. will post 2.12 earnings per share for the current year.

REV Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 26th. REV Group's payout ratio is currently 11.32%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. DA Davidson raised their price objective on shares of REV Group from $55.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Zacks Research downgraded shares of REV Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Morgan Stanley set a $64.00 price target on shares of REV Group in a research note on Tuesday, September 9th. Robert W. Baird lifted their price target on shares of REV Group from $50.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Finally, The Goldman Sachs Group lifted their price target 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. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $56.50.

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.

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