Synovus Financial Corp Buys 4,743 Shares of REV Group, Inc. $REVG

Key Points

• Synovus Financial Corp increased its stake in REV Group, Inc. by 13.8% in Q1, acquiring an additional 4,743 shares to hold a total of 39,078 shares valued at approximately $1.24 million.
• REV Group reported an earnings per share (EPS) of $0.70 for the last quarter, exceeding analysts' expectations of $0.57, with revenue also surpassing estimates at $629.10 million.
• The company announced a quarterly dividend of $0.06 per share, with an annual dividend yield of 0.4% and a dividend payout ratio of 12.77%.

Synovus Financial Corp grew its holdings in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 13.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,078 shares of the company's stock after purchasing an additional 4,743 shares during the quarter. Synovus Financial Corp owned about 0.08% of REV Group worth $1,235,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. McIlrath & Eck LLC boosted its position 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 period. SummerHaven Investment Management LLC boosted its position in 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 period. Hsbc Holdings PLC boosted its position in REV Group by 8.6% during the first quarter. Hsbc Holdings PLC now owns 7,914 shares of the company's stock worth $249,000 after purchasing an additional 629 shares during the period. Vident Advisory LLC boosted its position in REV Group by 5.2% during the fourth quarter. Vident Advisory LLC now owns 16,348 shares of the company's stock worth $521,000 after purchasing an additional 805 shares during the period. Finally, New Age Alpha Advisors LLC boosted its position in REV Group by 71.0% during the first quarter. New Age Alpha Advisors LLC now owns 2,165 shares of the company's stock worth $68,000 after purchasing an additional 899 shares during the period.

Insider Transactions at REV Group

In other REV Group news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of REV Group 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 sale, the chief executive officer directly owned 516,446 shares in the company, valued at $22,635,828.18. The trade was a 15.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

REVG has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on shares of REV Group from $26.00 to $30.00 and gave the stock a "sell" rating in a research report on Tuesday, May 27th. Wall Street Zen upgraded shares of REV Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Morgan Stanley upgraded shares of REV Group from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $33.00 to $46.00 in a research report on Wednesday, June 18th. Finally, DA Davidson raised their price objective on shares of REV Group from $51.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Two 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.com, the stock presently has an average rating of "Hold" and a consensus price target of $42.25.

REV Group Price Performance

Shares of REVG stock traded down $0.55 during trading hours on Monday, reaching $53.23. The stock had a trading volume of 513,640 shares, compared to its average volume of 609,881. The stock's fifty day simple moving average is $49.63 and its 200 day simple moving average is $39.84. 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, Inc. has a 12 month low of $21.54 and a 12 month high of $54.68. The firm has a market capitalization of $2.60 billion, a PE ratio of 28.32 and a beta of 1.15.

REV Group (NYSE:REVG - Get Free Report) last released its quarterly earnings data 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 net margin of 4.16% and a return on equity of 23.99%. The company had revenue of $629.10 million during the quarter, compared to analyst estimates of $603.51 million. During the same period last year, the business earned $0.39 earnings per share. REV Group's revenue was up 2.0% compared to the same quarter last year. REV Group has set its FY 2025 guidance at EPS. On average, equities research analysts predict that REV Group, Inc. will post 2.12 EPS for the current year.

REV Group Dividend Announcement

The business 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 was Friday, June 27th. This represents a $0.24 annualized dividend and a yield of 0.5%. REV Group's payout ratio is presently 12.77%.

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.