Allspring Global Investments Holdings LLC Sells 155,427 Shares of REV Group, Inc. (NYSE:REVG)

Allspring Global Investments Holdings LLC cut its holdings in shares of REV Group, Inc. (NYSE:REVG) by 70.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 65,671 shares of the company’s stock after selling 155,427 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in REV Group were worth $1,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in REV Group by 56.3% in the first quarter. Vanguard Group Inc. now owns 4,714,060 shares of the company’s stock worth $104,134,000 after purchasing an additional 1,698,502 shares during the period. Kennedy Capital Management LLC grew its stake in shares of REV Group by 161.8% in the 1st quarter. Kennedy Capital Management LLC now owns 947,919 shares of the company’s stock worth $20,940,000 after buying an additional 585,841 shares during the last quarter. Hennessy Advisors Inc. bought a new position in REV Group during the 2nd quarter valued at approximately $9,535,000. Hood River Capital Management LLC purchased a new position in REV Group during the first quarter valued at $8,240,000. Finally, Bessemer Group Inc. purchased a new position in REV Group during the first quarter valued at $6,293,000.

REV Group Stock Performance

NYSE:REVG opened at $26.78 on Thursday. The stock has a 50-day moving average price of $28.09 and a 200 day moving average price of $26.55. The stock has a market capitalization of $1.39 billion, a P/E ratio of 6.62 and a beta of 1.59. REV Group, Inc. has a 12-month low of $14.04 and a 12-month 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 posted its earnings results on Wednesday, September 4th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The company had revenue of $579.40 million for the quarter, compared to the consensus estimate of $618.70 million. REV Group had a return on equity of 18.69% and a net margin of 9.92%. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. Equities research analysts forecast that REV Group, Inc. will post 1.42 EPS for the current fiscal year.

REV Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

REVG has been the topic of a number of analyst reports. The Goldman Sachs Group upped their price target on shares of REV Group from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Thursday, September 5th. DA Davidson reaffirmed a “buy” rating and issued a $33.00 target price on shares of REV Group in a report on Thursday, September 5th. Finally, StockNews.com cut shares of REV Group from a “buy” rating to a “hold” rating in a report on Thursday, September 5th.

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.