Synovus Financial Corp Sells 16,701 Shares of REV Group, Inc. $REVG

Synovus Financial Corp trimmed its stake in REV Group, Inc. (NYSE:REVG) by 58.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,939 shares of the company’s stock after selling 16,701 shares during the quarter. Synovus Financial Corp’s holdings in REV Group were worth $677,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of REV Group by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,126,206 shares of the company’s stock valued at $290,502,000 after buying an additional 30,651 shares during the last quarter. JPMorgan Chase & Co. raised its position in REV Group by 111.1% during the third quarter. JPMorgan Chase & Co. now owns 539,133 shares of the company’s stock worth $30,553,000 after acquiring an additional 283,706 shares in the last quarter. Cookson Peirce & Co. Inc. acquired a new stake in REV Group in the third quarter valued at $1,235,000. Westover Capital Advisors LLC bought a new position in shares of REV Group in the 3rd quarter valued at about $795,000. Finally, LSV Asset Management increased its stake in shares of REV Group by 4.1% during the 3rd quarter. LSV Asset Management now owns 470,398 shares of the company’s stock worth $26,657,000 after purchasing an additional 18,731 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on REVG shares. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price target (down previously from $64.00) on shares of REV Group in a report on Monday, December 1st. DA Davidson cut REV Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $57.00 in a research report on Friday, October 31st. Zacks Research upgraded REV Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Morgan Stanley set a $55.00 price target on REV Group in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of REV Group in a report on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $49.25.

REV Group Price Performance

Shares of NYSE REVG opened at $63.90 on Monday. The firm has a market cap of $3.12 billion, a P/E ratio of 33.46 and a beta of 1.14. The company has a current ratio of 1.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.10. REV Group, Inc. has a 1-year low of $26.51 and a 1-year high of $69.92. The business’s 50 day moving average is $64.25 and its 200-day moving average is $58.56.

REV Group (NYSE:REVG) last released its quarterly earnings results on Wednesday, December 10th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.05. The business had revenue of $664.40 million during the quarter, compared to the consensus estimate of $646.77 million. REV Group had a return on equity of 31.67% and a net margin of 3.86%.The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Equities research analysts predict that REV Group, Inc. will post 2.12 earnings per share for the current year.

REV Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, December 24th. REV Group’s dividend payout ratio (DPR) is currently 12.57%.

REV Group Profile

REV Group, Inc (NYSE: REVG) is a diversified manufacturer of specialty vehicles serving public safety, healthcare, transportation and recreation markets. The company designs, engineers and produces a broad range of products, including fire and emergency apparatus, transit and shuttle buses, work trucks, ambulances and recreational vehicles. Through its integrated platform, REV Group combines engineering expertise with customer-focused assembly to deliver purpose-built solutions that meet the exact specifications of fleet operators, municipalities and individual consumers.

The company’s product portfolio is organized into three primary segments.