Comerica Bank acquired a new position in REV Group, Inc. (NYSE:REVG) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 52,167 shares of the company’s stock, valued at approximately $1,334,000. Comerica Bank owned approximately 0.08% of REV Group as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. raised its position in shares of REV Group by 10.9% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 688,725 shares of the company’s stock worth $19,807,000 after purchasing an additional 67,700 shares during the period. First Trust Advisors LP acquired a new stake in shares of REV Group during the third quarter worth $5,432,000. Susquehanna International Group LLP acquired a new stake in shares of REV Group during the second quarter worth $268,000. Argent Capital Management LLC acquired a new stake in shares of REV Group during the second quarter worth $2,581,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of REV Group during the second quarter worth $276,000. 24.99% of the stock is currently owned by institutional investors.
REV Group, Inc. (REVG) opened at $27.61 on Friday. REV Group, Inc. has a twelve month low of $23.38 and a twelve month high of $31.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.76 and a current ratio of 2.04.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%.
In other REV Group news, Director Kim A. Marvin sold 40,263 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $26.09, for a total value of $1,050,461.67. Following the transaction, the director now owns 150,671 shares in the company, valued at $3,931,006.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas B. Phillips sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $26.73, for a total value of $267,300.00. Following the completion of the transaction, the chief operating officer now owns 10,000 shares in the company, valued at approximately $267,300. The disclosure for this sale can be found here. Insiders have sold 51,248 shares of company stock worth $1,343,460 in the last quarter.
A number of brokerages have recently weighed in on REVG. Zacks Investment Research upgraded REV Group from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, August 9th. SunTrust Banks began coverage on REV Group in a report on Friday, November 17th. They set a “buy” rating and a $33.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.10.
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REV Group Company Profile
REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).
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