HighTower Advisors LLC Trims Stake in REV Group, Inc. (NYSE:REVG)

HighTower Advisors LLC lessened its position in shares of REV Group, Inc. (NYSE:REVG) by 65.6% during the 4th quarter, Holdings Channel reports. The institutional investor 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 institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of REV Group by 44.8% during the 4th quarter. Victory Capital Management Inc. now owns 42,480 shares of the company’s stock valued at $1,354,000 after acquiring an additional 13,146 shares during the period. Anchor Capital Advisors LLC acquired a new position in REV Group during the fourth quarter worth $1,768,000. Navellier & Associates Inc. lifted its holdings in REV Group by 70.3% during the fourth quarter. Navellier & Associates Inc. now owns 32,926 shares of the company’s stock valued at $1,049,000 after purchasing an additional 13,593 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of REV Group in the fourth quarter valued at about $614,000. Finally, Principal Financial Group Inc. increased its stake in shares of REV Group by 15.2% during the fourth quarter. Principal Financial Group Inc. now owns 57,906 shares of the company’s stock worth $1,845,000 after purchasing an additional 7,654 shares in the last quarter.

REV Group Trading Down 3.8 %

Shares of REVG opened at $32.07 on Friday. The firm has a 50-day moving average price of $32.32 and a 200 day moving average price of $30.71. The firm has a market capitalization of $1.66 billion, a P/E ratio of 7.14 and a beta of 1.56. The company has a current ratio of 1.72, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20. REV Group, Inc. has a 12-month low of $20.51 and a 12-month high of $36.00.

REV Group Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, March 28th. This represents a $0.24 annualized dividend and a yield of 0.75%. REV Group’s payout ratio is 13.48%.

Insiders Place Their Bets

In related news, CAO Joseph Ladue sold 4,533 shares of REV Group 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 sale, the chief accounting officer now owns 20,442 shares in the company, valued at approximately $658,436.82. This trade represents a 18.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

REVG has been the topic of several research reports. The Goldman Sachs Group raised their target price on REV Group from $25.00 to $28.50 and gave the company a “sell” rating in a research report on Thursday, December 12th. Robert W. Baird increased their price objective on shares of REV Group from $32.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, DA Davidson upped their price target on REV Group from $33.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.