Massachusetts Financial Services Co. MA Has $3.41 Million Holdings in REV Group, Inc. (NYSE:REVG)

Massachusetts Financial Services Co. MA lessened its stake in REV Group, Inc. (NYSE:REVG) by 2.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 121,642 shares of the company’s stock after selling 2,945 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in REV Group were worth $3,413,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in REVG. Vanguard Group Inc. boosted its holdings in shares of REV Group by 56.3% in the first 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 period. Price T Rowe Associates Inc. MD acquired a new position in shares of REV Group in the first quarter valued at approximately $1,492,000. Public Employees Retirement System of Ohio boosted its holdings in shares of REV Group by 17.8% in the first quarter. Public Employees Retirement System of Ohio now owns 31,006 shares of the company’s stock valued at $685,000 after buying an additional 4,688 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of REV Group by 56.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 380,247 shares of the company’s stock valued at $8,400,000 after buying an additional 137,943 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of REV Group by 56.7% in the first quarter. California State Teachers Retirement System now owns 49,518 shares of the company’s stock valued at $1,094,000 after buying an additional 17,914 shares during the period.

REV Group Stock Performance

Shares of REVG opened at $30.85 on Wednesday. REV Group, Inc. has a 12 month low of $14.87 and a 12 month high of $32.74. The firm has a fifty day simple moving average of $28.33 and a 200 day simple moving average of $27.46. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.36 and a beta of 1.59. 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 quarterly 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. REV Group had a net margin of 9.92% and a return on equity of 18.69%. The firm had revenue of $579.40 million for the quarter, compared to analyst estimates of $618.70 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. Research analysts forecast that REV Group, Inc. will post 1.42 EPS for the current fiscal year.

REV Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Friday, September 27th. REV Group’s dividend payout ratio (DPR) is currently 4.77%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. DA Davidson reiterated a “buy” rating and issued a $33.00 price target on shares of REV Group in a report on Thursday, September 5th. StockNews.com cut shares of REV Group from a “buy” rating to a “hold” rating 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 report on Thursday, September 5th.

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.