Empirical Financial Services LLC d.b.a. Empirical Wealth Management Invests $730,000 in REV Group, Inc. (NYSE:REVG)

Key Points

• Empirical Wealth Management invested approximately $730,000 in REV Group, Inc., acquiring 23,093 shares in the first quarter.
• REV Group reported a quarterly revenue of $629.10 million, surpassing analyst expectations and achieving an EPS of $0.70.
• The company declared a quarterly dividend of $0.06 per share with an annualized yield of 0.5%, reflecting a payout ratio of 12.77%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of REV Group, Inc. (NYSE:REVG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,093 shares of the company's stock, valued at approximately $730,000.

Several other hedge funds have also recently made changes to their positions in the business. Millennium Management LLC purchased a new stake in shares of REV Group during the fourth quarter worth about $513,000. SG Americas Securities LLC lifted its stake in shares of REV Group by 300.6% in the 1st quarter. SG Americas Securities LLC now owns 15,181 shares of the company's stock valued at $480,000 after purchasing an additional 11,391 shares during the last quarter. Speece Thorson Capital Group Inc. bought a new stake in shares of REV Group in the 1st quarter valued at approximately $4,842,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of REV Group by 32.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 351,902 shares of the company's stock worth $11,120,000 after acquiring an additional 86,703 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of REV Group during the 4th quarter worth approximately $474,000.

Insider Activity

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

Analyst Ratings Changes

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

REV Group Stock Down 0.1%

REV Group stock traded down $0.06 during midday trading on Tuesday, reaching $49.49. The company's stock had a trading volume of 211,950 shares, compared to its average volume of 701,649. REV Group, Inc. has a fifty-two week low of $21.54 and a fifty-two week high of $50.34. 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 cap of $2.42 billion, a P/E ratio of 26.32 and a beta of 1.18. The business has a 50-day simple moving average of $45.68 and a 200-day simple moving average of $37.32.

REV Group (NYSE:REVG - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $0.70 earnings per share for the quarter, beating 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 company had revenue of $629.10 million for the quarter, compared to analysts' expectations of $603.51 million. During the same period last year, the firm earned $0.39 earnings per share. REV Group's quarterly revenue was up 2.0% on a year-over-year basis. On average, research analysts expect that REV Group, Inc. will post 2.12 earnings per share for the current fiscal year.

REV Group Announces Dividend

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

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.