Geode Capital Management LLC Buys 79,243 Shares of REV Group, Inc. (NYSE:REVG)

Geode Capital Management LLC raised its stake in REV Group, Inc. (NYSE:REVG - Free Report) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,384,108 shares of the company's stock after buying an additional 79,243 shares during the period. Geode Capital Management LLC owned about 2.66% of REV Group worth $44,121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in REVG. Hennessy Advisors Inc. boosted its stake in shares of REV Group by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 460,900 shares of the company's stock valued at $14,689,000 after purchasing an additional 29,400 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in shares of REV Group during the fourth quarter valued at about $2,077,000. Principal Financial Group Inc. grew its stake 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 valued at $1,410,000 after buying an additional 30,262 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of REV Group in the fourth quarter worth about $614,000. Finally, Anchor Capital Advisors LLC bought a new stake in shares of REV Group in the 4th quarter valued at about $1,768,000.

REV Group Trading Down 0.6 %

Shares of NYSE REVG traded down $0.19 during trading hours on Friday, hitting $29.75. The company's stock had a trading volume of 1,132,301 shares, compared to its average volume of 706,207. REV Group, Inc. has a 12 month low of $20.86 and a 12 month high of $36.00. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 6.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.43 and a current ratio of 1.72. The business has a 50-day simple moving average of $31.10 and a 200-day simple moving average of $31.09.

REV Group Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Morgan Stanley lowered REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 price target on the stock. in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $34.63.

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.