Phocas Financial Corp. Sells 115,233 Shares of REV Group, Inc. (NYSE:REVG)

Phocas Financial Corp. reduced its stake in REV Group, Inc. (NYSE:REVG) by 85.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,400 shares of the company’s stock after selling 115,233 shares during the period. Phocas Financial Corp.’s holdings in REV Group were worth $650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of REV Group in the third quarter worth $5,973,000. Pinnacle Associates Ltd. increased its position in shares of REV Group by 63.8% in the third quarter. Pinnacle Associates Ltd. now owns 59,763 shares of the company’s stock valued at $1,677,000 after acquiring an additional 23,275 shares during the period. Farther Finance Advisors LLC increased its position in shares of REV Group by 27.2% in the third quarter. Farther Finance Advisors LLC now owns 2,158 shares of the company’s stock valued at $61,000 after acquiring an additional 461 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of REV Group by 81.1% during the third quarter. Janney Montgomery Scott LLC now owns 29,841 shares of the company’s stock valued at $837,000 after acquiring an additional 13,361 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of REV Group by 151.4% during the third quarter. Principal Financial Group Inc. now owns 50,252 shares of the company’s stock worth $1,410,000 after purchasing an additional 30,262 shares during the period.

Insider Buying and Selling

In related news, CAO Joseph Ladue sold 4,533 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $32.21, for a total transaction of $146,007.93. Following the sale, the chief accounting officer now owns 20,442 shares of the company’s stock, valued at $658,436.82. The trade was a 18.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on REVG. The Goldman Sachs Group boosted their price target on REV Group from $25.00 to $28.50 and gave the company a “sell” rating in a report on Thursday, December 12th. Robert W. Baird boosted their target price on REV Group from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, DA Davidson raised their price target on REV Group from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.75.

REV Group Stock Performance

Shares of REVG opened at $30.07 on Wednesday. The company has a 50-day simple moving average of $33.01 and a two-hundred day simple moving average of $30.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43. The firm has a market capitalization of $1.57 billion, a PE ratio of 6.70 and a beta of 1.60. REV Group, Inc. has a one year low of $17.76 and a one year high of $36.00.

REV Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Thursday, December 26th. This is a boost from REV Group’s previous quarterly dividend of $0.05. REV Group’s dividend payout ratio (DPR) is presently 5.35%.

REV Group 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.