Renaissance Technologies LLC Lowers Stake in REV Group, Inc. (NYSE:REVG)

Renaissance Technologies LLC lessened its holdings in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 29.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 286,600 shares of the company's stock after selling 121,400 shares during the period. Renaissance Technologies LLC owned approximately 0.55% of REV Group worth $9,134,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of REV Group by 43.4% during the 4th quarter. Invesco Ltd. now owns 1,731,557 shares of the company's stock worth $55,185,000 after purchasing an additional 524,369 shares during the period. Bank of Montreal Can boosted its position in REV Group by 9.1% during the fourth quarter. Bank of Montreal Can now owns 8,182 shares of the company's stock worth $261,000 after purchasing an additional 682 shares in the last quarter. Cerity Partners LLC purchased a new position in REV Group during the 4th quarter valued at about $205,000. FMR LLC lifted its stake in REV Group by 26.7% in the 4th quarter. FMR LLC now owns 7,819,739 shares of the company's stock valued at $249,215,000 after buying an additional 1,646,293 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in REV Group during the fourth quarter worth $250,000.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 price objective on the stock. in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $34.63.

REV Group Trading Up 3.6 %

REVG traded up $1.11 during midday trading on Wednesday, hitting $31.58. The company's stock had a trading volume of 125,650 shares, compared to its average volume of 703,094. The firm has a market cap of $1.63 billion, a P/E ratio of 7.03 and a beta of 1.22. REV Group, Inc. has a 52-week low of $21.13 and a 52-week 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 firm has a 50-day moving average price of $31.00 and a two-hundred day moving average price of $31.12.

REV Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, March 28th. REV Group's dividend payout ratio (DPR) is 13.48%.

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.