Alliancebernstein L.P. Sells 562,654 Shares of REV Group, Inc. $REVG

Key Points

• Alliancebernstein L.P. has significantly reduced its stake in REV Group, Inc. by 53.6%, now holding 487,226 shares valued at around $15.4 million.
• REV Group reported earnings per share of $0.79 for the last quarter, surpassing analysts' expectations of $0.63, along with an 11.3% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.06 per share, representing a 0.4% annual yield, to be paid on October 10th.

Alliancebernstein L.P. decreased its position in REV Group, Inc. (NYSE:REVG - Free Report) by 53.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 487,226 shares of the company's stock after selling 562,654 shares during the period. Alliancebernstein L.P. owned about 0.94% of REV Group worth $15,396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of REVG. Northern Trust Corp grew its holdings in REV Group by 7.3% during the 4th quarter. Northern Trust Corp now owns 488,004 shares of the company's stock worth $15,553,000 after acquiring an additional 33,308 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of REV Group in the 4th quarter valued at about $226,000. Baird Financial Group Inc. bought a new position in shares of REV Group in the 4th quarter valued at about $253,000. Gotham Asset Management LLC bought a new position in shares of REV Group in the 4th quarter valued at about $476,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in REV Group by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,206 shares of the company's stock worth $931,000 after purchasing an additional 1,109 shares during the period.

REV Group Stock Performance

REVG traded down $1.04 on Tuesday, hitting $59.23. The company's stock had a trading volume of 487,025 shares, compared to its average volume of 734,182. REV Group, Inc. has a 12 month low of $25.76 and a 12 month high of $64.47. The company has a quick ratio of 0.53, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.89 billion, a P/E ratio of 27.96 and a beta of 1.15. The company's 50 day simple moving average is $52.23 and its 200-day simple moving average is $41.87.

REV Group (NYSE:REVG - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.16. The company 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 firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. REV Group has set its FY 2025 guidance at EPS. Analysts forecast that REV Group, Inc. will post 2.12 EPS for the current year.

REV Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on REVG shares. Zacks Research cut REV Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. The Goldman Sachs Group upped their price target on shares of 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 shares of REV Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Robert W. Baird upped their price target on shares of REV Group from $50.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Finally, DA Davidson upped their price target on shares of REV Group from $55.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.