Fmr LLC Acquires 1,646,293 Shares of REV Group, Inc. (NYSE:REVG)

FMR LLC raised its stake in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 26.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,819,739 shares of the company's stock after purchasing an additional 1,646,293 shares during the quarter. FMR LLC owned approximately 15.02% of REV Group worth $249,215,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in REVG. Franklin Resources Inc. raised its stake in REV Group by 0.8% in the third quarter. Franklin Resources Inc. now owns 99,636 shares of the company's stock worth $2,776,000 after buying an additional 766 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of REV Group by 2.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 30,700 shares of the company's stock worth $978,000 after acquiring an additional 859 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of REV Group by 1.4% in the 4th quarter. Rhumbline Advisers now owns 71,130 shares of the company's stock valued at $2,267,000 after purchasing an additional 1,000 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of REV Group during the fourth quarter valued at approximately $40,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of REV Group by 30.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,180 shares of the company's stock valued at $324,000 after purchasing an additional 2,362 shares during the last quarter.

Analyst Ratings Changes

Separately, Morgan Stanley lowered 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. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, REV Group currently has an average rating of "Hold" and an average target price of $34.63.

REV Group Stock Performance

Shares of NYSE:REVG traded down $0.15 during mid-day trading on Thursday, reaching $29.79. 281,775 shares of the company traded hands, compared to its average volume of 701,870. REV Group, Inc. has a 52 week low of $20.51 and a 52 week high of $36.00. The firm has a market cap of $1.54 billion, a PE ratio of 6.68 and a beta of 1.22. The company's 50 day moving average price is $31.23 and its 200-day moving average price is $31.03. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.81%. REV Group's payout ratio is 13.48%.

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.