High Ground Investment Management LLP Takes Position in REV Group, Inc. (NYSE:REVG)

Key Points

• High Ground Investment Management LLP acquired 1,876,211 shares in REV Group, Inc., valued at approximately $59.3 million, making it the fourth largest position in their portfolio.
• CEO Jr. Mark A. Skonieczny sold 92,601 shares of REV Group stock for over $4 million, resulting in a 15.20% decrease in his ownership stake.
• Analysts have revised their price targets for REV Group, with Morgan Stanley raising their rating from "underweight" to "equal weight" and setting a new target price of $46.00.

High Ground Investment Management LLP purchased a new position in REV Group, Inc. (NYSE:REVG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,876,211 shares of the company's stock, valued at approximately $59,288,000. REV Group makes up 13.8% of High Ground Investment Management LLP's portfolio, making the stock its 4th biggest holding. High Ground Investment Management LLP owned about 3.63% of REV Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. KBC Group NV purchased a new stake in REV Group during the first quarter valued at about $33,000. New Age Alpha Advisors LLC acquired a new position in shares of REV Group in the 4th quarter valued at about $40,000. McIlrath & Eck LLC lifted its position in shares of REV Group by 31.5% in the fourth quarter. McIlrath & Eck LLC now owns 1,435 shares of the company's stock worth $46,000 after purchasing an additional 344 shares in the last quarter. Pictet Asset Management Holding SA purchased a new stake in shares of REV Group in the fourth quarter worth approximately $202,000. Finally, Cerity Partners LLC purchased a new stake in shares of REV Group in the fourth quarter worth approximately $205,000.

Insider Buying and Selling

In other REV Group news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $43.83, for a total transaction of $4,058,701.83. Following the transaction, the chief executive officer owned 516,446 shares in the company, valued at $22,635,828.18. This trade represents a 15.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

REV Group Stock Down 2.8%

NYSE:REVG traded down $1.38 during mid-day trading on Friday, reaching $48.17. The stock had a trading volume of 364,246 shares, compared to its average volume of 704,803. The business's 50 day moving average is $45.20 and its 200 day moving average is $37.05. REV Group, Inc. has a fifty-two week low of $21.54 and a fifty-two week high of $50.34. The stock has a market cap of $2.35 billion, a P/E ratio of 25.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.66 and a quick ratio of 0.53.

REV Group (NYSE:REVG - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.13. REV Group had a return on equity of 23.99% and a net margin of 4.16%. The firm had revenue of $629.10 million for the quarter, compared to the consensus estimate of $603.51 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that REV Group, Inc. will post 2.12 earnings per share for the current year.

REV Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, June 27th. REV Group's dividend payout ratio (DPR) is 12.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on REVG. Morgan Stanley raised shares of REV Group from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $33.00 to $46.00 in a research report on Wednesday, June 18th. Wall Street Zen raised shares of REV Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. The Goldman Sachs Group increased their price target on shares of REV Group from $26.00 to $30.00 and gave the stock a "sell" rating in a research report on Tuesday, May 27th. Finally, DA Davidson increased their price target on shares of REV Group from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.25.

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.