Phocas Financial Corp. Sells 7,220 Shares of REV Group, Inc. (NYSE:REVG)

Key Points

• Phocas Financial Corp. reduced its holdings in REV Group, Inc. by 5.4%, now owning 127,274 shares valued at approximately $4.02 million.
• REV Group recently reported earnings of $0.70 per share, surpassing analysts' expectations and showing a revenue increase of 2.0% year-over-year.
• The company has a new quarterly dividend of $0.06 per share, resulting in an annualized yield of 0.5% with a low dividend payout ratio of 12.77%.

Phocas Financial Corp. trimmed its holdings in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 127,274 shares of the company's stock after selling 7,220 shares during the period. Phocas Financial Corp. owned approximately 0.25% of REV Group worth $4,022,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Millennium Management LLC acquired a new stake in REV Group in the 4th quarter worth $513,000. SG Americas Securities LLC increased 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 buying an additional 11,391 shares during the period. Speece Thorson Capital Group Inc. acquired a new position in REV Group in the first quarter valued at approximately $4,842,000. Wealth Enhancement Advisory Services LLC grew its position 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 buying an additional 86,703 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in shares of REV Group in the 4th quarter valued at $474,000.

Insiders Place Their Bets

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 transaction, the chief executive officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company's stock.

REV Group Stock Performance

NYSE:REVG traded up $0.67 during trading hours on Thursday, reaching $50.43. The stock had a trading volume of 330,011 shares, compared to its average volume of 698,986. REV Group, Inc. has a 12-month low of $21.54 and a 12-month high of $51.37. The stock has a market cap of $2.46 billion, a P/E ratio of 26.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.53 and a current ratio of 1.66. The stock has a 50 day simple moving average of $46.16 and a 200 day simple moving average of $37.49.

REV Group (NYSE:REVG - Get Free Report) last announced its quarterly earnings data 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. The company 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%. REV Group's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. On average, research analysts forecast that REV Group, Inc. will post 2.12 EPS for the current fiscal year.

REV Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a $0.06 dividend. 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%.

Analysts Set New Price Targets

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