Monarch Partners Asset Management LLC cut its stake in shares of Rev Group Inc (NASDAQ:REVG) by 14.8% during the second quarter, Holdings Channel reports. The institutional investor owned 503,074 shares of the company’s stock after selling 87,181 shares during the period. Rev Group makes up about 1.4% of Monarch Partners Asset Management LLC’s portfolio, making the stock its 13th largest position. Monarch Partners Asset Management LLC’s holdings in Rev Group were worth $13,925,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. TD Asset Management Inc. increased its position in shares of Rev Group by 4.6% in the second quarter. TD Asset Management Inc. now owns 22,619 shares of the company’s stock worth $626,000 after buying an additional 1,000 shares during the last quarter. Strs Ohio bought a new position in shares of Rev Group during the first quarter worth approximately $102,000. JPMorgan Chase & Co. bought a new position in shares of Rev Group during the first quarter worth approximately $225,000. Nationwide Fund Advisors bought a new position in shares of Rev Group during the first quarter worth approximately $411,000. Finally, Lebenthal Lisanti Capital Growth LLC increased its position in shares of Rev Group by 60.6% in the second quarter. Lebenthal Lisanti Capital Growth LLC now owns 39,669 shares of the company’s stock worth $1,098,000 after buying an additional 14,964 shares during the last quarter.
Rev Group Inc (REVG) opened at 25.21 on Friday. The firm has a 50-day moving average price of $26.98 and a 200-day moving average price of $27.37. The firm has a market capitalization of $1.61 billion and a P/E ratio of 86.04. Rev Group Inc has a 52 week low of $24.34 and a 52 week high of $31.60.
Rev Group (NASDAQ:REVG) last posted its quarterly earnings results on Tuesday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Rev Group had a net margin of 1.25% and a return on equity of 6.72%. The firm had revenue of $545.32 million during the quarter, compared to analyst estimates of $570.27 million. Equities analysts forecast that Rev Group Inc will post $1.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Thursday, July 27th.
Separately, Zacks Investment Research downgraded Rev Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Rev Group has a consensus rating of “Buy” and an average target price of $32.11.
Rev Group Company Profile
REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).
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