Federated Hermes Inc. Sells 40,762 Shares of REV Group, Inc. (NYSE:REVG)

Federated Hermes Inc. cut its holdings in shares of REV Group, Inc. (NYSE:REVG) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 361,966 shares of the company’s stock after selling 40,762 shares during the period. Federated Hermes Inc.’s holdings in REV Group were worth $11,536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of REV Group in the fourth quarter worth $250,000. Envestnet Asset Management Inc. grew its position in shares of REV Group by 96.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,805 shares of the company’s stock valued at $567,000 after purchasing an additional 8,741 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of REV Group in the fourth quarter valued at about $526,000. Wells Fargo & Company MN grew its position in shares of REV Group by 375.1% in the fourth quarter. Wells Fargo & Company MN now owns 97,732 shares of the company’s stock valued at $3,115,000 after purchasing an additional 77,163 shares during the period. Finally, Foundry Partners LLC boosted its position in REV Group by 6.5% during the fourth quarter. Foundry Partners LLC now owns 145,573 shares of the company’s stock worth $4,639,000 after acquiring an additional 8,836 shares during the last quarter.

REV Group Stock Up 9.6 %

Shares of NYSE:REVG opened at $31.63 on Thursday. The stock has a market cap of $1.63 billion, a P/E ratio of 7.04 and a beta of 1.22. The firm has a fifty day moving average price of $31.50 and a 200 day moving average price of $30.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43. REV Group, Inc. has a 1-year low of $20.51 and a 1-year high of $36.00.

REV Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.76%. REV Group’s payout ratio is currently 13.48%.

Analysts Set New Price Targets

REVG has been the topic of several recent analyst reports. DA Davidson boosted their target price on shares of REV Group from $33.00 to $39.00 and gave the company a “buy” rating in a report on Friday, December 13th. Robert W. Baird upped their target price on shares of REV Group from $32.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group increased their price objective on shares of REV Group from $25.00 to $28.50 and gave the company a “sell” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, REV Group presently has a consensus rating of “Hold” and an average price target of $33.75.

Insiders Place Their Bets

In other news, CAO Joseph Ladue sold 4,533 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 20,442 shares in the company, valued at $658,436.82. This trade represents a 18.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

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.