Vaughan Nelson Investment Management L.P. Boosts Stake in Rev Group Inc (NASDAQ:REVG)

Vaughan Nelson Investment Management L.P. boosted its position in Rev Group Inc (NASDAQ:REVG) by 345.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 621,025 shares of the company’s stock after buying an additional 481,750 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.97% of Rev Group worth $17,190,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the company. Nationwide Fund Advisors purchased a new stake in shares of Rev Group during the first quarter worth approximately $411,000. Strs Ohio purchased a new stake in shares of Rev Group during the first quarter worth approximately $102,000. Russell Investments Group Ltd. purchased a new stake in shares of Rev Group during the first quarter worth approximately $1,822,000. Wells Fargo & Company MN purchased a new stake in shares of Rev Group during the first quarter worth approximately $17,811,000. Finally, Jennison Associates LLC purchased a new stake in shares of Rev Group during the first quarter worth approximately $4,779,000.

Rev Group Inc (REVG) opened at 27.18 on Thursday. The stock has a 50 day moving average price of $27.86 and a 200-day moving average price of $27.47. Rev Group Inc has a one year low of $24.34 and a one year high of $31.60. The firm has a market capitalization of $1.73 billion and a PE ratio of 92.76.

Rev Group (NASDAQ:REVG) last issued its quarterly earnings results on Tuesday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $545.32 million during the quarter, compared to analysts’ expectations of $570.27 million. Rev Group had a return on equity of 6.72% and a net margin of 1.25%. On average, equities analysts forecast that Rev Group Inc will post $1.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Thursday, July 27th.

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Separately, Zacks Investment Research downgraded Rev Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Rev Group has an average rating of “Buy” and an average price target of $32.38.

About Rev Group

REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).