Teacher Retirement System of Texas Lowers Stake in REV Group, Inc. (NYSE:REVG)

Teacher Retirement System of Texas lowered its stake in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 17.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,714 shares of the company's stock after selling 6,899 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of REV Group worth $1,065,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. KBC Group NV acquired a new stake in REV Group during the 1st quarter worth approximately $33,000. New Age Alpha Advisors LLC purchased a new stake in shares of REV Group during the fourth quarter worth approximately $40,000. McIlrath & Eck LLC lifted its holdings 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 worth $46,000 after purchasing an additional 344 shares during the period. Pictet Asset Management Holding SA acquired a new stake in shares of REV Group during the fourth quarter worth $202,000. Finally, Cerity Partners LLC purchased a new position in REV Group in the 4th quarter valued at $205,000.

REV Group Price Performance

Shares of NYSE REVG traded down $0.06 during midday trading on Monday, hitting $48.43. The company had a trading volume of 697,939 shares, compared to its average volume of 722,309. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 25.76 and a beta of 1.17. REV Group, Inc. has a twelve month low of $21.54 and a twelve month high of $50.34. The business has a 50-day simple moving average of $42.23 and a two-hundred day simple moving average of $35.62. 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 (NYSE:REVG - Get Free Report) last issued its earnings results 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 company had revenue of $629.10 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. Equities research analysts anticipate that REV Group, Inc. will post 2.12 earnings per share for the current year.

REV Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.50%. REV Group's payout ratio is 12.77%.

Insiders Place Their Bets

In other news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $43.83, for a total value of $4,058,701.83. Following the completion of the transaction, the chief executive officer owned 516,446 shares in the company, valued at $22,635,828.18. This trade represents a 15.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on REVG. Morgan Stanley upgraded shares of REV Group from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $33.00 to $46.00 in a research report on Wednesday, June 18th. Wall Street Zen raised shares of REV Group from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. The Goldman Sachs Group lifted their price objective on REV Group from $26.00 to $30.00 and gave the company a "sell" rating in a report on Tuesday, May 27th. Finally, DA Davidson increased their target price on REV Group from $39.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, one has issued 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, the company has an average rating of "Moderate Buy" and an average target price of $41.25.

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.