Optimize Financial Inc Takes $252,000 Position in REV Group, Inc. (NYSE:REVG)

Optimize Financial Inc acquired a new stake in REV Group, Inc. (NYSE:REVG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,913 shares of the company's stock, valued at approximately $252,000.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in REV Group by 26.7% in the 4th quarter. FMR LLC now owns 7,819,739 shares of the company's stock valued at $249,215,000 after purchasing an additional 1,646,293 shares in the last quarter. Vanguard Group Inc. raised its position in REV Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,238,928 shares of the company's stock worth $166,965,000 after acquiring an additional 39,323 shares in the last quarter. Invesco Ltd. lifted its holdings in REV Group by 43.4% in the fourth quarter. Invesco Ltd. now owns 1,731,557 shares of the company's stock valued at $55,185,000 after acquiring an additional 524,369 shares during the period. Geode Capital Management LLC boosted its position in shares of REV Group by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 1,384,108 shares of the company's stock worth $44,121,000 after purchasing an additional 79,243 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of REV Group by 3.3% in the 3rd quarter. State Street Corp now owns 1,089,130 shares of the company's stock valued at $30,615,000 after purchasing an additional 35,066 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut shares of REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 target price for the company. in a 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $34.63.

REV Group Price Performance

Shares of REVG stock 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 705,599. The company has a current ratio of 1.72, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20. REV Group, Inc. has a twelve month low of $20.51 and a twelve 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 business has a fifty day moving average of $31.16 and a 200-day moving average of $31.04.

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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, March 28th. REV Group's dividend payout ratio is currently 13.48%.

About REV Group

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.