Corient Private Wealth LLC Cuts Position in REV Group, Inc. (NYSE:REVG)

Corient Private Wealth LLC decreased its stake in REV Group, Inc. (NYSE:REVG - Free Report) by 59.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,394 shares of the company's stock after selling 27,221 shares during the period. Corient Private Wealth LLC's holdings in REV Group were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of REVG. FMR LLC lifted its position in 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 acquiring an additional 2,504,568 shares during the last quarter. Geode Capital Management LLC increased its position in shares of REV Group by 15.4% during the third quarter. Geode Capital Management LLC now owns 1,304,865 shares of the company's stock worth $36,621,000 after purchasing an additional 173,759 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of REV Group by 40.4% in the 3rd quarter. Stifel Financial Corp now owns 308,423 shares of the company's stock valued at $8,654,000 after purchasing an additional 88,798 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of REV Group by 31.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 315,530 shares of the company's stock valued at $8,854,000 after purchasing an additional 76,100 shares during the period. Finally, Barclays PLC grew its stake in REV Group by 355.5% during the 3rd quarter. Barclays PLC now owns 89,619 shares of the company's stock worth $2,515,000 after buying an additional 69,946 shares during the last quarter.

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Insider Activity

In other news, CAO Joseph Ladue sold 4,533 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $32.21, for a total transaction of $146,007.93. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on REVG. DA Davidson boosted their price objective on REV Group from $33.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Robert W. Baird raised their price objective on shares of REV Group from $32.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group lifted their price objective on shares of REV Group from $25.00 to $28.50 and gave the company a "sell" rating in a research note on Thursday, December 12th. One investment 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 MarketBeat.com, REV Group presently has a consensus rating of "Hold" and an average target price of $33.75.

REV Group Stock Performance

Shares of REV Group stock traded up $0.61 during trading hours on Wednesday, hitting $32.81. 533,196 shares of the company were exchanged, compared to its average volume of 704,393. The business has a 50-day moving average of $32.15 and a 200-day moving average of $30.85. REV Group, Inc. has a 1 year low of $20.51 and a 1 year high of $36.00. The company has a current ratio of 1.72, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 7.31 and a beta of 1.21.

REV Group Dividend Announcement

The company also recently announced 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 0.73%. The ex-dividend date of this dividend is Friday, March 28th. REV Group's dividend payout ratio (DPR) is presently 13.48%.

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.