Allspring Global Investments Holdings LLC Has $1.84 Million Holdings in REV Group, Inc. (NYSE:REVG)

Allspring Global Investments Holdings LLC trimmed its stake in shares of REV Group, Inc. (NYSE:REVG) by 70.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,671 shares of the company’s stock after selling 155,427 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of REV Group worth $1,843,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Capstone Investment Advisors LLC bought a new position in REV Group during the first quarter worth $2,010,000. GSA Capital Partners LLP bought a new stake in shares of REV Group during the 1st quarter worth about $1,049,000. Vanguard Group Inc. grew its stake in REV Group by 56.3% in the 1st quarter. Vanguard Group Inc. now owns 4,714,060 shares of the company’s stock valued at $104,134,000 after buying an additional 1,698,502 shares during the last quarter. Swiss National Bank raised its holdings in REV Group by 73.8% in the 1st quarter. Swiss National Bank now owns 101,700 shares of the company’s stock valued at $2,247,000 after acquiring an additional 43,200 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new stake in REV Group during the first quarter worth approximately $1,492,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on REVG shares. StockNews.com cut shares of REV Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. DA Davidson reissued a “buy” rating and issued a $33.00 price objective on shares of REV Group in a report on Thursday, September 5th. Finally, The Goldman Sachs Group increased their target price on shares of REV Group from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, September 5th.

REV Group Stock Performance

REVG opened at $26.78 on Thursday. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 6.62 and a beta of 1.59. The company’s fifty day moving average price is $28.09 and its two-hundred day moving average price is $26.55. REV Group, Inc. has a 1-year low of $14.04 and a 1-year high of $31.85. The company has a current ratio of 1.85, a quick ratio of 0.57 and a debt-to-equity ratio of 0.54.

REV Group (NYSE:REVG) last announced its earnings results on Wednesday, September 4th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. The firm had revenue of $579.40 million during the quarter, compared to analyst estimates of $618.70 million. REV Group had a return on equity of 18.69% and a net margin of 9.92%. The business’s revenue was down 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. On average, analysts expect that REV Group, Inc. will post 1.42 EPS for the current fiscal year.

REV Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, September 27th. REV Group’s dividend payout ratio (DPR) is presently 4.89%.

REV Group 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.