REV Group, Inc. $REVG Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its stake in REV Group, Inc. (NYSE:REVG) by 35.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,127 shares of the company’s stock after selling 54,117 shares during the period. Citigroup Inc. owned approximately 0.20% of REV Group worth $5,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hillsdale Investment Management Inc. boosted its stake in REV Group by 6.9% in the third quarter. Hillsdale Investment Management Inc. now owns 156,400 shares of the company’s stock valued at $8,863,000 after acquiring an additional 10,100 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of REV Group by 23.5% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 30,988 shares of the company’s stock valued at $1,756,000 after purchasing an additional 5,905 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of REV Group in the 3rd quarter valued at about $23,607,000. Vanguard Group Inc. grew its stake in REV Group by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,126,206 shares of the company’s stock worth $290,502,000 after buying an additional 30,651 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in REV Group by 111.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 539,133 shares of the company’s stock worth $30,553,000 after buying an additional 283,706 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on REVG shares. Morgan Stanley set a $55.00 price objective on REV Group in a research note on Tuesday, November 4th. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target (down from $64.00) on shares of REV Group in a research report on Monday, December 1st. Zacks Research raised shares of REV Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of REV Group in a research note on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $49.25.

REV Group Stock Performance

NYSE:REVG opened at $63.90 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.49. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 33.46 and a beta of 1.14. The firm’s fifty day moving average price is $64.70 and its 200 day moving average price is $59.17. REV Group, Inc. has a 1-year low of $26.51 and a 1-year high of $69.92.

REV Group (NYSE:REVG) last announced its quarterly earnings data on Wednesday, December 10th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The company had revenue of $664.40 million during the quarter, compared to the consensus estimate of $646.77 million. REV Group had a net margin of 3.86% and a return on equity of 31.67%. REV Group’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, sell-side analysts expect that REV Group, Inc. will post 2.12 EPS for the current year.

REV Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were issued a $0.06 dividend. 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 payout ratio is currently 12.57%.

About REV Group

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.