Hennessy Advisors Inc. Sells 47,300 Shares of REV Group, Inc. (NYSE:REVG)

Hennessy Advisors Inc. trimmed its holdings in REV Group, Inc. (NYSE:REVG) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 413,600 shares of the company’s stock after selling 47,300 shares during the period. Hennessy Advisors Inc.’s holdings in REV Group were worth $13,070,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new stake in shares of REV Group during the 4th quarter worth $2,077,000. Aquatic Capital Management LLC bought a new stake in REV Group in the 4th quarter valued at $474,000. Dynamic Technology Lab Private Ltd bought a new stake in REV Group in the 4th quarter valued at $526,000. Millennium Management LLC bought a new stake in REV Group in the 4th quarter valued at $513,000. Finally, Ieq Capital LLC bought a new stake in REV Group in the 4th quarter valued at $614,000.

Insiders Place Their Bets

In other REV Group news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $43.83, for a total transaction of $4,058,701.83. Following the sale, the chief executive officer now owns 516,446 shares of the company’s stock, valued at $22,635,828.18. This represents a 15.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

REV Group Trading Down 1.9%

Shares of REVG stock opened at $44.19 on Friday. REV Group, Inc. has a 52-week low of $21.54 and a 52-week high of $46.10. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 9.84 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.43 and a current ratio of 1.72. The firm has a fifty day moving average of $36.05 and a 200-day moving average of $33.48.

REV Group (NYSE:REVG) last announced its earnings results on Wednesday, June 4th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.13. The business had revenue of $629.10 million during the quarter, compared to analysts’ expectations of $603.51 million. REV Group had a net margin of 10.82% and a return on equity of 17.74%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. On average, equities research analysts forecast that REV Group, Inc. will post 2.12 earnings per share for the current fiscal year.

REV Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Friday, June 27th. REV Group’s dividend payout ratio is currently 12.77%.

Analysts Set New Price Targets

REVG has been the subject of a number of research reports. DA Davidson increased their price target on shares of REV Group from $39.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, June 5th. Wall Street Zen raised shares of REV Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Morgan Stanley downgraded shares of REV Group from an “equal weight” rating to an “underweight” rating and set a $33.00 price target for the company. in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group increased their price target on shares of REV Group from $26.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.00.

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.