Victory Capital Management Inc. Boosts Holdings in REV Group, Inc. (NYSE:REVG)

Victory Capital Management Inc. boosted its holdings in REV Group, Inc. (NYSE:REVG - Free Report) by 108.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,470 shares of the company's stock after purchasing an additional 45,990 shares during the period. Victory Capital Management Inc. owned about 0.17% of REV Group worth $2,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in REVG. KBC Group NV bought a new position in shares of REV Group in the 1st quarter valued at about $33,000. New Age Alpha Advisors LLC bought a new stake in shares of REV Group during the 4th quarter worth about $40,000. McIlrath & Eck LLC raised its stake in 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 purchasing an additional 344 shares in the last quarter. Pictet Asset Management Holding SA acquired a new position in shares of REV Group in the 4th quarter valued at approximately $202,000. Finally, Cerity Partners LLC acquired a new position in shares of REV Group in the 4th quarter valued at approximately $205,000.

REV Group Stock Down 2.4%

Shares of REV Group stock traded down $1.17 during trading hours on Friday, reaching $48.39. The company's stock had a trading volume of 206,616 shares, compared to its average volume of 703,831. REV Group, Inc. has a one year low of $21.54 and a one year high of $50.34. The company has a market capitalization of $2.36 billion, a P/E ratio of 25.68 and a beta of 1.17. The stock's fifty day simple moving average is $45.20 and its two-hundred day simple moving average is $37.05. 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 (NYSE:REVG - Get Free Report) last released 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. REV Group had a net margin of 4.16% and a return on equity of 23.99%. The firm had revenue of $629.10 million for the quarter, compared to analyst estimates of $603.51 million. During the same period last year, the firm earned $0.39 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts forecast that REV Group, Inc. will post 2.12 earnings per share for the current year.

REV Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, June 27th. REV Group's dividend payout ratio (DPR) is presently 12.77%.

Insider Buying and Selling at REV Group

In related news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were 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 trade represents a 15.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on REVG shares. The Goldman Sachs Group upped their price target 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. Wall Street Zen upgraded shares of REV Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Morgan Stanley raised shares of 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 note on Wednesday, June 18th. Finally, DA Davidson increased their price objective on shares of REV Group from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.25.

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.