Convergence Investment Partners LLC Buys Shares of 21,725 REV Group, Inc. $REVG

Convergence Investment Partners LLC bought a new stake in shares of REV Group, Inc. (NYSE:REVG) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,725 shares of the company’s stock, valued at approximately $1,034,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS increased its holdings in REV Group by 2.6% during the second quarter. KLP Kapitalforvaltning AS now owns 11,700 shares of the company’s stock valued at $557,000 after buying an additional 300 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in REV Group by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 31,778 shares of the company’s stock valued at $1,512,000 after buying an additional 475 shares during the last quarter. Hsbc Holdings PLC increased its holdings in REV Group by 8.6% during the first quarter. Hsbc Holdings PLC now owns 7,914 shares of the company’s stock valued at $249,000 after buying an additional 629 shares during the last quarter. New Age Alpha Advisors LLC increased its holdings 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 valued at $68,000 after buying an additional 899 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in REV Group by 1.6% during the first quarter. Principal Financial Group Inc. now owns 58,809 shares of the company’s stock valued at $1,858,000 after buying an additional 903 shares during the last quarter.

REV Group Price Performance

Shares of NYSE:REVG opened at $61.54 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.53 and a current ratio of 1.63. The firm has a fifty day moving average price of $57.16 and a 200 day moving average price of $47.46. REV Group, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $64.47. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 29.03 and a beta of 1.16.

REV Group (NYSE:REVG) last issued its earnings results on Wednesday, September 3rd. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.16. REV Group had a net margin of 4.51% and a return on equity of 27.25%. The firm had revenue of $644.90 million during the quarter, compared to analyst estimates of $613.24 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. REV Group’s revenue for the quarter was up 11.3% on a year-over-year basis. REV Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that REV Group, Inc. will post 2.12 earnings per share for the current fiscal year.

REV Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a dividend of $0.06 per share. The ex-dividend date was Friday, September 26th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. REV Group’s dividend payout ratio is currently 11.32%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on REVG. Morgan Stanley set a $64.00 price objective on shares of REV Group in a research note on Tuesday, September 9th. Weiss Ratings reissued a “buy (b)” rating on shares of REV Group in a research note on Wednesday, October 8th. Zacks Research raised shares of REV Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. DA Davidson increased their price objective on shares of REV Group from $55.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Finally, Robert W. Baird increased their price objective on shares of REV Group from $50.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, REV Group currently has a consensus rating of “Moderate Buy” and an average price target of $56.50.

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.