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

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of REV Group, Inc. (NYSE:REVG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,093 shares of the company's stock, valued at approximately $730,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. High Ground Investment Management LLP bought a new stake in REV Group in the first quarter valued at $59,288,000. Federated Hermes Inc. increased its holdings in shares of REV Group by 29.6% in the 1st quarter. Federated Hermes Inc. now owns 469,257 shares of the company's stock worth $14,829,000 after acquiring an additional 107,291 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in REV Group by 18.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,842 shares of the company's stock valued at $564,000 after purchasing an additional 2,739 shares during the last quarter. Royce & Associates LP acquired a new position in REV Group during the 1st quarter valued at about $1,995,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in REV Group in the 1st quarter worth about $293,000.

Insider Transactions at REV Group

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

REV Group Trading Down 2.6%

Shares of NYSE:REVG opened at $48.27 on Friday. The company has a 50 day moving average of $45.43 and a 200-day moving average of $37.16. The company has a current ratio of 1.66, a quick ratio of 0.53 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.36 billion, a P/E ratio of 25.68 and a beta of 1.18. REV Group, Inc. has a twelve month low of $21.54 and a twelve month high of $50.34.

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

REV Group Announces Dividend

The company also recently announced 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, June 27th. REV Group's payout ratio is presently 12.77%.

Analyst Upgrades and Downgrades

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.