Bank of New York Mellon Corp Decreases Stake in REV Group, Inc. (NYSE:REVG)

Bank of New York Mellon Corp cut its position in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 19.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 254,859 shares of the company's stock after selling 62,810 shares during the period. Bank of New York Mellon Corp owned 0.49% of REV Group worth $8,122,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. lifted its holdings in REV Group by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 460,900 shares of the company's stock valued at $14,689,000 after purchasing an additional 29,400 shares in the last quarter. FMR LLC raised its position in shares of REV Group by 68.3% in the third quarter. FMR LLC now owns 6,173,446 shares of the company's stock valued at $173,227,000 after buying an additional 2,504,568 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of REV Group in the fourth quarter valued at about $2,077,000. Anthracite Investment Company Inc. acquired a new stake in shares of REV Group in the third quarter valued at about $6,334,000. Finally, Principal Financial Group Inc. raised its position in shares of REV Group by 151.4% in the third quarter. Principal Financial Group Inc. now owns 50,252 shares of the company's stock valued at $1,410,000 after buying an additional 30,262 shares during the last quarter.

Insider Activity

In other news, CAO Joseph Ladue sold 4,533 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $32.21, for a total value of $146,007.93. Following the completion of the transaction, the chief accounting officer now owns 20,442 shares of the company's stock, valued at approximately $658,436.82. This trade represents a 18.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company's stock.

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REV Group Stock Up 4.4 %

Shares of NYSE REVG traded up $1.32 during midday trading on Tuesday, hitting $31.29. The company's stock had a trading volume of 741,468 shares, compared to its average volume of 702,414. The business's fifty day simple moving average is $32.52 and its two-hundred day simple moving average is $30.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43. REV Group, Inc. has a 1 year low of $18.13 and a 1 year high of $36.00. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 6.97 and a beta of 1.56.

REV Group Announces Dividend

The firm 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 $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, March 28th. REV Group's payout ratio is 13.48%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on REVG shares. The Goldman Sachs Group raised their price objective on shares of REV Group from $25.00 to $28.50 and gave the stock a "sell" rating in a research report on Thursday, December 12th. Robert W. Baird increased their target price 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 increased their target price on shares of REV Group from $33.00 to $39.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $33.75.

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.