Sei Investments Co. Reduces Holdings in REV Group, Inc. (NYSE:REVG)

Sei Investments Co. cut its stake in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 36.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,086 shares of the company's stock after selling 41,556 shares during the period. Sei Investments Co. owned approximately 0.14% of REV Group worth $2,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hennessy Advisors Inc. boosted its holdings in REV Group by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 460,900 shares of the company's stock valued at $14,689,000 after acquiring an additional 29,400 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of REV Group in the fourth quarter valued at approximately $2,077,000. Principal Financial Group Inc. boosted its stake 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 purchasing an additional 30,262 shares during the period. Ieq Capital LLC acquired a new position in shares of REV Group in the fourth quarter valued at approximately $614,000. Finally, Anchor Capital Advisors LLC purchased a new stake in REV Group during the 4th quarter worth approximately $1,768,000.

REV Group Stock Up 1.5 %

Shares of REVG traded up $0.43 during midday trading on Tuesday, reaching $29.25. The stock had a trading volume of 614,238 shares, compared to its average volume of 675,045. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 6.51 and a beta of 1.22. The company's fifty day simple moving average is $31.82 and its two-hundred day simple moving average is $30.89. REV Group, Inc. has a 1-year low of $20.51 and a 1-year high of $36.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43.

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REV Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, March 28th. REV Group's dividend payout ratio (DPR) is 13.48%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other REV Group 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 transaction of $146,007.93. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

REV Group 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.