Hennessy Advisors Inc. Sells 47,300 Shares of REV Group, Inc. (NYSE:REVG)

Hennessy Advisors Inc. decreased its holdings in REV Group, Inc. (NYSE:REVG - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 413,600 shares of the company's stock after selling 47,300 shares during the period. Hennessy Advisors Inc. owned 0.80% of REV Group worth $13,070,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of REV Group by 26.7% in the 4th quarter. FMR LLC now owns 7,819,739 shares of the company's stock worth $249,215,000 after acquiring an additional 1,646,293 shares during the last quarter. Invesco Ltd. raised its holdings in REV Group by 43.4% in the 4th quarter. Invesco Ltd. now owns 1,731,557 shares of the company's stock worth $55,185,000 after purchasing an additional 524,369 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of REV Group in the 4th quarter worth about $9,749,000. SG Capital Management LLC purchased a new stake in REV Group during the 4th quarter valued at about $8,203,000. Finally, JPMorgan Chase & Co. grew its position in REV Group by 249.5% during the 4th quarter. JPMorgan Chase & Co. now owns 191,481 shares of the company's stock valued at $6,102,000 after purchasing an additional 136,700 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $43.83, for a total transaction of $4,058,701.83. Following the completion of the sale, the chief executive officer now owns 516,446 shares in the company, valued at approximately $22,635,828.18. This represents a 15.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

REVG has been the topic of several recent research reports. DA Davidson increased their price objective on shares of REV Group from $39.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Morgan Stanley downgraded REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 price objective for the company. in a report on Wednesday, April 16th. The Goldman Sachs Group increased their price objective on shares of 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 upgraded REV Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $38.00.

REV Group Price Performance

Shares of REVG traded down $0.85 during trading hours on Friday, reaching $44.19. 415,018 shares of the company traded hands, compared to its average volume of 695,285. The stock has a fifty day simple moving average of $36.05 and a 200 day simple moving average of $33.52. REV Group, Inc. has a fifty-two week low of $21.54 and a fifty-two week high of $46.10. The stock has a market capitalization of $2.16 billion, a PE ratio of 9.84 and a beta of 1.12. The company has a quick ratio of 0.43, a current ratio of 1.72 and a debt-to-equity ratio of 0.20.

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, beating the consensus estimate of $0.57 by $0.13. The business had revenue of $629.10 million for the quarter, compared to the consensus estimate of $603.51 million. REV Group had a return on equity of 17.74% and a net margin of 10.82%. The company's revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. As a group, research analysts predict that REV Group, Inc. will post 2.12 EPS for the current fiscal year.

REV Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, June 27th. REV Group's payout ratio is 12.77%.

About REV Group

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.