Envestnet Asset Management Inc. Boosts Stock Holdings in REV Group, Inc. (NYSE:REVG)

Key Points

• Envestnet Asset Management Inc. increased its stake in REV Group, acquiring an additional 6,603 shares, bringing its total holdings to 24,408 shares worth approximately $771,000.
• Several institutional investors, including FMR LLC and Invesco Ltd., have also raised their stakes in REV Group by significant margins during the 4th quarter.
• REV Group recently reported earnings of $0.70 per share, surpassing expectations, and announced a dividend of $0.06 per share, representing an annualized yield of 0.5%.

Envestnet Asset Management Inc. grew its position in REV Group, Inc. (NYSE:REVG - Free Report) by 37.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,408 shares of the company's stock after buying an additional 6,603 shares during the period. Envestnet Asset Management Inc.'s holdings in REV Group were worth $771,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC grew its stake in REV Group by 26.7% during the 4th quarter. FMR LLC now owns 7,819,739 shares of the company's stock worth $249,215,000 after purchasing an additional 1,646,293 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of REV Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,238,928 shares of the company's stock worth $166,965,000 after purchasing an additional 39,323 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of REV Group by 43.4% in the fourth quarter. Invesco Ltd. now owns 1,731,557 shares of the company's stock valued at $55,185,000 after acquiring an additional 524,369 shares during the period. Geode Capital Management LLC increased its stake in REV Group by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 1,384,108 shares of the company's stock valued at $44,121,000 after purchasing an additional 79,243 shares during the period. Finally, Brightline Capital Management LLC grew its stake in shares of REV Group by 1.2% in the 4th quarter. Brightline Capital Management LLC now owns 656,000 shares of the company's stock valued at $20,907,000 after purchasing an additional 8,000 shares during the last quarter.

Insider Activity

In other news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 516,446 shares of the company's stock, valued at $22,635,828.18. The trade was a 15.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

REVG has been the topic of a number of recent analyst reports. DA Davidson boosted their price target on shares of REV Group from $51.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group upped their price objective 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 raised REV Group from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Morgan Stanley raised shares of 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 research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, REV Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.25.

REV Group Price Performance

REVG traded up $0.02 during trading on Tuesday, reaching $49.57. 530,508 shares of the stock were exchanged, compared to its average volume of 618,945. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.66 and a quick ratio of 0.53. The business's 50 day moving average price is $45.92 and its two-hundred day moving average price is $37.40. REV Group, Inc. has a 1 year low of $21.54 and a 1 year high of $50.34. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 26.37 and a beta of 1.18.

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

REV Group Announces Dividend

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

REV Group Company 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.