Ameriprise Financial Inc. Cuts Stock Position in REV Group, Inc. (NYSE:REVG)

Ameriprise Financial Inc. lessened its stake in REV Group, Inc. (NYSE:REVG) by 16.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 289,419 shares of the company’s stock after selling 55,164 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.56% of REV Group worth $9,224,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC purchased a new stake in shares of REV Group during the fourth quarter worth $40,000. Pictet Asset Management Holding SA purchased a new stake in shares of REV Group during the fourth quarter worth $202,000. Cerity Partners LLC purchased a new stake in shares of REV Group during the fourth quarter worth $205,000. Planning Center Inc. purchased a new stake in shares of REV Group during the fourth quarter worth $223,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of REV Group during the fourth quarter worth $226,000.

REV Group Trading Up 0.3%

Shares of REVG opened at $38.43 on Wednesday. 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 $21.54 and a 12-month high of $38.78. The firm has a 50-day moving average price of $32.80 and a 200 day moving average price of $32.18. The firm has a market capitalization of $1.99 billion, a P/E ratio of 8.56 and a beta of 1.12.

REV Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, March 28th. REV Group’s dividend payout ratio is currently 13.48%.

Analyst Ratings Changes

Separately, Morgan Stanley lowered shares of REV Group from an “equal weight” rating to an “underweight” rating and set a $33.00 target price for the company. in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, REV Group has a consensus rating of “Hold” and a consensus price target of $34.63.

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.