Wells Fargo & Company MN Grows Stake in REV Group, Inc. (NYSE:REVG)

Wells Fargo & Company MN boosted its position in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 375.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,732 shares of the company's stock after acquiring an additional 77,163 shares during the quarter. Wells Fargo & Company MN owned 0.19% of REV Group worth $3,115,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hennessy Advisors Inc. grew its holdings in REV Group by 6.8% during the fourth 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 during the period. Asset Management One Co. Ltd. purchased a new position in shares of REV Group during the 4th quarter valued at about $2,077,000. Principal Financial Group Inc. grew its stake in shares of REV Group by 151.4% during the 3rd quarter. Principal Financial Group Inc. now owns 50,252 shares of the company's stock valued at $1,410,000 after acquiring an additional 30,262 shares during the period. Ieq Capital LLC bought a new position in shares of REV Group during the 4th quarter valued at approximately $614,000. Finally, Anchor Capital Advisors LLC purchased a new stake in REV Group in the 4th quarter worth approximately $1,768,000.

REV Group Stock Up 2.2 %

Shares of REVG opened at $31.15 on Thursday. The business's 50 day moving average is $31.00 and its 200 day moving average is $31.12. 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 12-month low of $21.13 and a 12-month high of $36.00. The company has a market capitalization of $1.61 billion, a PE ratio of 6.94 and a beta of 1.22.

REV Group Announces Dividend

The business 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. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Friday, March 28th. REV Group's payout ratio is currently 13.48%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered shares of REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 price target for the company. in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.

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