Hennessy Advisors Inc. Has $13.07 Million Stock Position in REV Group, Inc. (NYSE:REVG)

Hennessy Advisors Inc. cut its position in REV Group, Inc. (NYSE:REVG - Free Report) by 10.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 413,600 shares of the company's stock after selling 47,300 shares during the period. Hennessy Advisors Inc. owned about 0.80% of REV Group worth $13,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of REVG. New Age Alpha Advisors LLC bought a new position in shares of REV Group during the fourth quarter worth $40,000. McIlrath & Eck LLC lifted its position in REV Group by 31.5% during the fourth quarter. McIlrath & Eck LLC now owns 1,435 shares of the company's stock valued at $46,000 after purchasing an additional 344 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in REV Group during the fourth quarter valued at $202,000. Cerity Partners LLC bought a new position in REV Group during the fourth quarter valued at $205,000. Finally, Bridgefront Capital LLC bought a new position in REV Group during the fourth quarter valued at $216,000.

REV Group Stock Down 1.7%

NYSE:REVG traded down $0.75 during trading hours on Tuesday, hitting $43.55. The stock had a trading volume of 605,947 shares, compared to its average volume of 694,266. REV Group, Inc. has a 1-year low of $21.54 and a 1-year high of $46.10. The company has a current ratio of 1.72, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.13 billion, a PE ratio of 9.70 and a beta of 1.12. The business has a 50 day simple moving average of $36.36 and a two-hundred day simple moving average of $33.61.

REV Group (NYSE:REVG - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $0.70 earnings per share (EPS) 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 17.74% and a net margin of 10.82%. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share. Analysts predict that REV Group, Inc. will post 2.12 EPS for the current year.

REV Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, June 27th. This represents a $0.24 annualized dividend and a yield of 0.55%. REV Group's dividend payout ratio (DPR) is presently 12.77%.

Analysts Set New Price Targets

Several research analysts recently commented on REVG shares. Morgan Stanley downgraded shares of REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 price target on the stock. in a research note on Wednesday, April 16th. DA Davidson upped their price objective on shares of REV Group from $39.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Wall Street Zen upgraded shares of REV Group from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, The Goldman Sachs Group boosted their price target on shares of REV Group from $26.00 to $30.00 and gave the stock a "sell" rating in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $38.00.

Insider Buying and Selling at REV Group

In related 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 stock was sold at an average price of $43.83, for a total value of $4,058,701.83. Following the completion of the sale, the chief executive officer now directly owns 516,446 shares in the company, valued at approximately $22,635,828.18. The trade was a 15.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company's stock.

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.