Hotchkis & Wiley Capital Management LLC Reduces Stock Position in REV Group, Inc. $REVG

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in REV Group, Inc. by 73.3%, selling 251,560 shares during the first quarter, while still holding about 91,770 shares valued at $2.9 million.
• Several institutional investors, including Envestnet Asset Management Inc. and First Trust Advisors LP, have boosted their investments in REV Group, with Envestnet raising its holdings by 96.4%.
• Analysts have mixed ratings on REV Group, with an average price target of $42.25; DA Davidson recently increased its target from $51 to $55 and rated it a "buy."

Hotchkis & Wiley Capital Management LLC cut its position in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 73.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,770 shares of the company's stock after selling 251,560 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.18% of REV Group worth $2,900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in REVG. Millennium Management LLC purchased a new position in shares of REV Group in the fourth quarter worth $513,000. SG Americas Securities LLC raised its stake in shares of REV Group by 300.6% in the first quarter. SG Americas Securities LLC now owns 15,181 shares of the company's stock worth $480,000 after purchasing an additional 11,391 shares during the last quarter. Speece Thorson Capital Group Inc. purchased a new stake in REV Group during the first quarter valued at $4,842,000. American Century Companies Inc. increased its position in REV Group by 345.5% during the first quarter. American Century Companies Inc. now owns 643,854 shares of the company's stock valued at $20,346,000 after acquiring an additional 499,328 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in REV Group by 32.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 351,902 shares of the company's stock valued at $11,120,000 after acquiring an additional 86,703 shares during the last quarter.

Analysts Set New Price Targets

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

REV Group Price Performance

Shares of NYSE:REVG traded down $0.55 during trading on Friday, reaching $53.23. 513,640 shares of the company's stock traded hands, compared to its average volume of 614,379. REV Group, Inc. has a fifty-two week low of $21.54 and a fifty-two week high of $54.68. The company has a quick ratio of 0.53, a current ratio of 1.66 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.60 billion, a PE ratio of 28.32 and a beta of 1.18. The company has a 50-day simple moving average of $49.45 and a 200-day simple moving average of $39.65.

REV Group (NYSE:REVG - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $0.70 EPS for the quarter, beating 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 firm had revenue of $629.10 million for the quarter, compared to analysts' expectations of $603.51 million. During the same period last year, the firm earned $0.39 EPS. The company's quarterly revenue was up 2.0% on a year-over-year basis. REV Group has set its FY 2025 guidance at EPS. As a group, analysts predict that REV Group, Inc. will post 2.12 earnings per share for the current year.

REV Group Announces Dividend

The business also recently announced 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 0.5%. The ex-dividend date was Friday, June 27th. REV Group's payout ratio is currently 12.77%.

Insider Buying and Selling at REV Group

In other 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 transaction of $4,058,701.83. Following the transaction, the chief executive officer directly 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 document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.