Alliancebernstein L.P. Decreases Stake in REV Group, Inc. (NYSE:REVG)

Alliancebernstein L.P. lowered its stake in REV Group, Inc. (NYSE:REVG - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,049,880 shares of the company's stock after selling 275,549 shares during the period. Alliancebernstein L.P. owned approximately 2.02% of REV Group worth $33,460,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of REVG. Meeder Asset Management Inc. acquired a new position in REV Group in the 4th quarter valued at $739,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of REV Group in the fourth quarter valued at approximately $289,000. Pictet Asset Management Holding SA acquired a new position in REV Group during the fourth quarter worth $202,000. New Age Alpha Advisors LLC acquired a new stake in REV Group in the fourth quarter valued at $40,000. Finally, JPMorgan Chase & Co. boosted its position in shares of REV Group by 249.5% during the 4th quarter. JPMorgan Chase & Co. now owns 191,481 shares of the company's stock worth $6,102,000 after purchasing an additional 136,700 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on REVG. The Goldman Sachs Group raised their price objective on REV Group from $25.00 to $28.50 and gave the company a "sell" rating in a research note on Thursday, December 12th. Robert W. Baird raised their price target on shares of REV Group from $32.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. Finally, DA Davidson boosted their price objective on shares of REV Group from $33.00 to $39.00 and gave the company a "buy" rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $33.75.

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REV Group Trading Up 3.5 %

Shares of REVG traded up $1.07 during mid-day trading on Friday, hitting $32.00. The company had a trading volume of 549,414 shares, compared to its average volume of 703,377. REV Group, Inc. has a 1-year low of $20.51 and a 1-year high of $36.00. The business's 50-day simple moving average is $31.46 and its 200-day simple moving average is $30.94. The stock has a market cap of $1.65 billion, a PE ratio of 7.13 and a beta of 1.22. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.75%. REV Group's dividend payout ratio is presently 13.48%.

Insider Transactions at REV Group

In related news, CAO Joseph Ladue sold 4,533 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $32.21, for a total transaction of $146,007.93. Following the completion of the sale, the chief accounting officer now directly owns 20,442 shares of the company's stock, valued at approximately $658,436.82. This represents a 18.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

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.