HighTower Advisors LLC Sells 45,704 Shares of REV Group, Inc. (NYSE:REVG)

HighTower Advisors LLC decreased its stake in REV Group, Inc. (NYSE:REVG - Free Report) by 65.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,953 shares of the company's stock after selling 45,704 shares during the period. HighTower Advisors LLC's holdings in REV Group were worth $763,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Planning Center Inc. purchased a new stake in shares of REV Group during the 4th quarter valued at approximately $223,000. D.A. Davidson & CO. purchased a new stake in shares of REV Group during the third quarter worth $229,000. XTX Topco Ltd bought a new position in shares of REV Group in the third quarter worth $277,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of REV Group by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,977 shares of the company's stock valued at $336,000 after purchasing an additional 1,171 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of REV Group during the 3rd quarter valued at $441,000.

REV Group Price Performance

Shares of REVG stock traded up $0.61 during trading on Wednesday, hitting $32.81. The company had a trading volume of 533,196 shares, compared to its average volume of 704,393. The stock's 50-day moving average is $32.15 and its two-hundred day moving average is $30.85. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 7.31 and a beta of 1.21. 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, Inc. has a 52 week low of $20.51 and a 52 week high of $36.00.

Remove Ads

REV Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.06 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.24 annualized dividend and a yield of 0.73%. REV Group's dividend payout ratio (DPR) is presently 13.48%.

Insider Activity at REV Group

In other news, CAO Joseph Ladue sold 4,533 shares of REV Group stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $32.21, for a total value of $146,007.93. Following the transaction, the chief accounting officer now owns 20,442 shares in the company, valued at approximately $658,436.82. The trade was a 18.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.