Corebridge Financial Inc. Has $795,000 Holdings in REV Group, Inc. $REVG

Corebridge Financial Inc. lessened its holdings in shares of REV Group, Inc. (NYSE:REVG) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,158 shares of the company’s stock after selling 373 shares during the quarter. Corebridge Financial Inc.’s holdings in REV Group were worth $795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. High Ground Investment Management LLP bought a new position in shares of REV Group in the 1st quarter valued at about $59,288,000. Aberdeen Group plc bought a new position in shares of REV Group in the 1st quarter valued at about $25,796,000. American Century Companies Inc. grew its holdings in shares of REV Group by 345.5% in the 1st quarter. American Century Companies Inc. now owns 643,854 shares of the company’s stock valued at $20,346,000 after acquiring an additional 499,328 shares in the last quarter. Bragg Financial Advisors Inc bought a new position in shares of REV Group in the 1st quarter valued at about $11,639,000. Finally, Point72 Asset Management L.P. bought a new position in shares of REV Group in the 4th quarter valued at about $9,749,000.

REV Group Trading Up 1.6%

Shares of REVG stock opened at $62.55 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.66 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $3.05 billion, a PE ratio of 29.50 and a beta of 1.15. The firm has a 50 day moving average price of $50.68 and a two-hundred day moving average price of $40.49. REV Group, Inc. has a 12-month low of $24.90 and a 12-month high of $63.38.

REV Group (NYSE:REVG) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.63 by $0.16. REV Group had a net margin of 4.51% and a return on equity of 26.92%. The business had revenue of $644.90 million during the quarter, compared to the consensus estimate of $613.24 million. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. REV Group has set its FY 2025 guidance at EPS. As a group, analysts predict that REV Group, Inc. will post 2.12 earnings per share for the current year.

REV Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. REV Group’s payout ratio is currently 11.32%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Zacks Research cut REV Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Morgan Stanley upgraded REV Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $33.00 to $46.00 in a report on Wednesday, June 18th. The Goldman Sachs Group lifted their price target on REV Group from $26.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday, May 27th. Wall Street Zen upgraded REV Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, Robert W. Baird lifted their price target on REV Group from $50.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $52.00.

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.