REV Group, Inc. (NYSE:REVG) Shares Purchased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its holdings in REV Group, Inc. by 29.6%, owning 469,257 shares valued at approximately $14.8 million as of the latest SEC filing.
• REV Group reported earnings per share of $0.70 for the last quarter, surpassing analysts' expectations of $0.57, along with a revenue of $629.10 million.
• The company announced a quarterly dividend of $0.06 per share, reflecting an annualized dividend of $0.24 and a yield of 0.5% as part of its financial return strategy.

Federated Hermes Inc. boosted its holdings in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 29.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 469,257 shares of the company's stock after acquiring an additional 107,291 shares during the period. Federated Hermes Inc. owned about 0.91% of REV Group worth $14,829,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in REVG. FMR LLC boosted 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 valued at $249,215,000 after purchasing an additional 1,646,293 shares in the last quarter. Invesco Ltd. increased its holdings in shares of REV Group by 43.4% during the 4th 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 last quarter. Point72 Asset Management L.P. acquired a new position in shares of REV Group during the fourth quarter worth approximately $9,749,000. SG Capital Management LLC acquired a new position in shares of REV Group in the 4th quarter valued at $8,203,000. Finally, Speece Thorson Capital Group Inc. bought a new position in REV Group during the 1st quarter valued at about $4,842,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on REVG. DA Davidson upped their price objective on shares of REV Group from $51.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Morgan Stanley raised shares of REV Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $33.00 to $46.00 in a research note on Wednesday, June 18th. The Goldman Sachs Group raised their target price on REV Group from $26.00 to $30.00 and gave the company a "sell" rating in a research report on Tuesday, May 27th. Finally, Wall Street Zen raised REV Group from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. 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's stock. According to MarketBeat.com, REV Group presently has an average rating of "Moderate Buy" and a consensus target price of $42.25.

Insiders Place Their Bets

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

REV Group Stock Down 0.1%

Shares of NYSE:REVG traded down $0.05 on Tuesday, reaching $49.50. The company had a trading volume of 211,950 shares, compared to its average volume of 701,649. The firm's 50 day simple moving average is $45.68 and its 200-day simple moving average is $37.32. REV Group, Inc. has a 52-week low of $21.54 and a 52-week high of $50.34. The firm has a market capitalization of $2.42 billion, a PE ratio of 26.32 and a beta of 1.18. The company has a current ratio of 1.66, a quick ratio of 0.53 and a debt-to-equity ratio of 0.36.

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

REV Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, June 27th. This represents a $0.24 annualized dividend and a yield of 0.5%. REV Group's payout ratio is presently 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.