Fmr LLC Purchases 2,504,568 Shares of REV Group, Inc. (NYSE:REVG)

FMR LLC boosted its holdings in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 68.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,173,446 shares of the company's stock after buying an additional 2,504,568 shares during the quarter. FMR LLC owned approximately 11.87% of REV Group worth $173,227,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC increased its position in REV Group by 27.2% during the third quarter. Farther Finance Advisors LLC now owns 2,158 shares of the company's stock worth $61,000 after buying an additional 461 shares during the last quarter. Amalgamated Bank grew its position in shares of REV Group by 67.5% in the second quarter. Amalgamated Bank now owns 1,777 shares of the company's stock valued at $44,000 after purchasing an additional 716 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of REV Group by 2.9% in the third quarter. Victory Capital Management Inc. now owns 29,334 shares of the company's stock valued at $823,000 after purchasing an additional 822 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of REV Group by 11.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,806 shares of the company's stock valued at $269,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of REV Group by 21.9% in the second quarter. Arizona State Retirement System now owns 13,800 shares of the company's stock valued at $343,000 after purchasing an additional 2,476 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on REVG shares. StockNews.com downgraded REV Group from a "buy" rating to a "hold" rating in a research report on Thursday, September 5th. DA Davidson reiterated a "buy" rating and issued a $33.00 price target on shares of REV Group in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group boosted their price target on REV Group from $22.00 to $25.00 and gave the company a "sell" rating in a research note on Thursday, September 5th.

REV Group Price Performance

Shares of REVG stock traded up $0.38 during trading on Tuesday, hitting $31.44. The company had a trading volume of 132,262 shares, compared to its average volume of 756,552. The stock's 50-day moving average price is $28.62 and its 200 day moving average price is $27.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.57 and a current ratio of 1.85. REV Group, Inc. has a one year low of $15.87 and a one year high of $32.74. The firm has a market capitalization of $1.63 billion, a P/E ratio of 7.46 and a beta of 1.61.

REV Group (NYSE:REVG - Get Free Report) last released its earnings results on Wednesday, September 4th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. REV Group had a return on equity of 18.69% and a net margin of 9.92%. The firm had revenue of $579.40 million during the quarter, compared to analysts' expectations of $618.70 million. During the same period in the prior year, the company earned $0.31 earnings per share. The company's quarterly revenue was down 14.8% on a year-over-year basis. Equities analysts expect that REV Group, Inc. will post 1.42 EPS for the current fiscal year.

REV Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Friday, September 27th. REV Group's payout ratio is 4.77%.

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.