Allspring Global Investments Holdings LLC Sells 39,846 Shares of REV Group, Inc. (NYSE:REVG)

Allspring Global Investments Holdings LLC lessened its stake in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,098 shares of the company's stock after selling 39,846 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.43% of REV Group worth $5,503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. New York State Teachers Retirement System purchased a new position in REV Group in the 1st quarter worth $63,000. AJOVista LLC acquired a new position in REV Group in the fourth quarter valued at approximately $68,000. CWM LLC boosted its position in REV Group by 525.6% in the 2nd quarter. CWM LLC now owns 4,010 shares of the company's stock worth $100,000 after purchasing an additional 3,369 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of REV Group during the 4th quarter worth approximately $187,000. Finally, Sandia Investment Management LP purchased a new position in shares of REV Group during the 1st quarter valued at approximately $221,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on REVG shares. StockNews.com raised shares of REV Group from a "hold" rating to a "buy" rating in a report on Tuesday, August 27th. 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 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $20.50.

REV Group Price Performance

Shares of NYSE REVG traded up $0.53 during midday trading on Friday, hitting $31.84. The stock had a trading volume of 563,582 shares, compared to its average volume of 556,460. The company has a quick ratio of 0.53, a current ratio of 1.75 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $27.20 and a 200-day simple moving average of $24.33. The company has a market capitalization of $1.65 billion, a PE ratio of 7.78 and a beta of 1.61. REV Group, Inc. has a 1 year low of $12.71 and a 1 year high of $31.85.

REV Group (NYSE:REVG - Get Free Report) last issued its earnings results on Wednesday, June 5th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.10. REV Group had a net margin of 9.41% and a return on equity of 16.85%. The business had revenue of $616.90 million during the quarter, compared to analysts' expectations of $603.17 million. On average, sell-side analysts expect that REV Group, Inc. will post 1.45 EPS for the current fiscal year.

REV Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, June 28th. REV Group's payout ratio is currently 4.89%.

REV Group Company 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.