Federated Hermes Inc. Lowers Stock Holdings in REV Group, Inc. (NYSE:REVG)

Federated Hermes Inc. lowered its holdings in shares of REV Group, Inc. (NYSE:REVG) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 403,379 shares of the company’s stock after selling 35,088 shares during the quarter. Federated Hermes Inc. owned approximately 0.78% of REV Group worth $10,040,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of REVG. New York State Teachers Retirement System purchased a new position in shares of REV Group in the first quarter valued at approximately $63,000. CWM LLC lifted its position in shares of REV Group by 525.6% in the second quarter. CWM LLC now owns 4,010 shares of the company’s stock valued at $100,000 after acquiring an additional 3,369 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of REV Group in the fourth quarter valued at approximately $187,000. DekaBank Deutsche Girozentrale lifted its position in shares of REV Group by 257.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 7,525 shares of the company’s stock valued at $187,000 after acquiring an additional 5,420 shares in the last quarter. Finally, Sandia Investment Management LP purchased a new position in shares of REV Group in the first quarter valued at approximately $221,000.

REV Group Stock Performance

Shares of REV Group stock opened at $28.56 on Wednesday. The business’s 50 day moving average price is $27.80 and its 200 day moving average price is $25.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.57 and a current ratio of 1.85. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 6.98 and a beta of 1.59. REV Group, Inc. has a one year low of $14.04 and a one year high of $31.85.

REV Group (NYSE:REVG) last posted its earnings results on Wednesday, September 4th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.06. The company had revenue of $579.40 million during the quarter, compared to analysts’ expectations of $618.70 million. REV Group had a return on equity of 18.69% and a net margin of 9.92%. The firm’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. On average, research analysts predict that REV Group, Inc. will post 1.45 EPS for the current year.

REV Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.70%. REV Group’s payout ratio is presently 4.89%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. DA Davidson restated a “buy” rating and issued a $33.00 target price on shares of REV Group in a research report on Thursday, September 5th. Morgan Stanley began coverage on REV Group in a research report on Tuesday, June 11th. They set an “equal weight” rating and a $29.50 price objective on the stock. The Goldman Sachs Group lifted their price objective on REV Group from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Finally, StockNews.com downgraded REV Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th.

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.