Geode Capital Management LLC increased its position in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 15.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,304,865 shares of the company's stock after buying an additional 173,759 shares during the quarter. Geode Capital Management LLC owned 2.51% of REV Group worth $36,621,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank increased its stake in REV Group by 67.5% in the 2nd quarter. Amalgamated Bank now owns 1,777 shares of the company's stock valued at $44,000 after buying an additional 716 shares during the last quarter. 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 last quarter. DekaBank Deutsche Girozentrale raised its holdings in REV Group by 257.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 7,525 shares of the company's stock worth $187,000 after acquiring an additional 5,420 shares in the last quarter. Atria Investments Inc bought a new stake in REV Group during the third quarter worth about $201,000. Finally, Leuthold Group LLC acquired a new position in REV Group during the second quarter valued at approximately $213,000.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on REVG shares. StockNews.com cut REV Group from a "buy" rating to a "hold" rating in a research note on Thursday, September 5th. DA Davidson increased their price target on shares of REV Group from $33.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, December 13th. The Goldman Sachs Group boosted their price objective on shares of REV Group from $25.00 to $28.50 and gave the stock a "sell" rating in a research note on Thursday, December 12th. Finally, Robert W. Baird lifted their price target on REV Group from $32.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. One 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $33.75.
Check Out Our Latest Report on REVG
REV Group Stock Performance
Shares of NYSE:REVG traded up $0.68 on Wednesday, hitting $31.51. The company had a trading volume of 208,868 shares, compared to its average volume of 764,568. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 7.02 and a beta of 1.61. The stock has a 50 day moving average price of $30.09 and a 200 day moving average price of $28.25. REV Group, Inc. has a 1-year low of $16.00 and a 1-year high of $35.96. The company has a current ratio of 1.72, a quick ratio of 0.57 and a debt-to-equity ratio of 0.20.
REV Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 26th will be paid a $0.06 dividend. The ex-dividend date is Thursday, December 26th. This represents a $0.24 dividend on an annualized basis and a yield of 0.76%. This is a positive change from REV Group's previous quarterly dividend of $0.05. REV Group's dividend payout ratio is 5.35%.
REV Group Profile
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Free Report)
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.
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