American Century Companies Inc. Buys 499,328 Shares of REV Group, Inc. $REVG

Key Points

• American Century Companies Inc. increased its ownership in REV Group, Inc. by 345.5%, acquiring 499,328 additional shares and bringing its total to 643,854 shares valued at approximately $20.3 million.
• Several large investors, including Invesco Ltd. and Federated Hermes Inc., also raised their stakes in REV Group during the first quarter, highlighting growing institutional interest in the company.
• REV Group reported a profit of $0.70 EPS for the last quarter, exceeding expectations, and is forecasting a yearly EPS of 2.12, evidencing positive financial performance.

American Century Companies Inc. increased its stake in REV Group, Inc. (NYSE:REVG - Free Report) by 345.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 643,854 shares of the company's stock after buying an additional 499,328 shares during the period. American Century Companies Inc. owned 1.25% of REV Group worth $20,346,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in REVG. KBC Group NV purchased a new stake in shares of REV Group in the 1st quarter worth approximately $33,000. McIlrath & Eck LLC grew its stake in shares of REV Group by 31.5% in the 4th quarter. McIlrath & Eck LLC now owns 1,435 shares of the company's stock worth $46,000 after buying an additional 344 shares during the last quarter. New Age Alpha Advisors LLC grew its stake in shares of REV Group by 71.0% in the 1st quarter. New Age Alpha Advisors LLC now owns 2,165 shares of the company's stock worth $68,000 after buying an additional 899 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of REV Group in the 4th quarter worth approximately $205,000. Finally, Bridgefront Capital LLC purchased a new stake in shares of REV Group in the 4th quarter worth approximately $216,000.

Insider Buying and Selling at REV Group

In other news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 516,446 shares of the company's stock, valued at $22,635,828.18. This represents a 15.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on REVG. The Goldman Sachs Group increased their target price on REV Group from $26.00 to $30.00 and gave the company a "sell" rating in a research note on Tuesday, May 27th. Morgan Stanley upgraded REV Group from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $33.00 to $46.00 in a research note on Wednesday, June 18th. DA Davidson increased their target price on REV Group from $51.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded REV Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $42.25.

REV Group Stock Performance

Shares of NYSE REVG traded down $0.83 during midday trading on Thursday, hitting $53.73. 426,386 shares of the stock traded hands, compared to its average volume of 693,660. The firm has a 50-day moving average of $49.07 and a two-hundred day moving average of $39.32. The firm has a market capitalization of $2.62 billion, a P/E ratio of 28.57 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. REV Group, Inc. has a one year low of $21.54 and a one year high of $54.68.

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, beating the consensus estimate of $0.57 by $0.13. The firm 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%.The company's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. REV Group has set its FY 2025 guidance at EPS. On average, equities analysts forecast that REV Group, Inc. will post 2.12 EPS for the current fiscal year.

REV Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, June 27th. REV Group's dividend 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.