Nicholas Investment Partners LP Trims Position in REV Group, Inc. (NYSE:REVG)

Nicholas Investment Partners LP lowered its stake in REV Group, Inc. (NYSE:REVG) by 5.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 591,708 shares of the company’s stock after selling 37,321 shares during the period. REV Group makes up 1.7% of Nicholas Investment Partners LP’s holdings, making the stock its 6th biggest holding. Nicholas Investment Partners LP’s holdings in REV Group were worth $18,858,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hennessy Advisors Inc. lifted its stake in REV Group by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 460,900 shares of the company’s stock worth $14,689,000 after purchasing an additional 29,400 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of REV Group during the fourth quarter worth $2,077,000. Aquatic Capital Management LLC bought a new position in shares of REV Group in the 4th quarter worth about $474,000. Dynamic Technology Lab Private Ltd bought a new position in shares of REV Group in the 4th quarter worth about $526,000. Finally, Ieq Capital LLC acquired a new position in shares of REV Group in the 4th quarter valued at about $614,000.

Wall Street Analyst Weigh In

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

REV Group Trading Up 2.9%

Shares of NYSE REVG opened at $38.46 on Wednesday. REV Group, Inc. has a 12-month low of $21.54 and a 12-month high of $38.69. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 8.57 and a beta of 1.12. The company has a current ratio of 1.72, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $32.06 and its 200 day simple moving average is $31.80.

REV Group Announces Dividend

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

REV Group Company 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.