Geode Capital Management LLC Boosts Holdings in REV Group, Inc. (NYSE:REVG)

Geode Capital Management LLC grew its stake in shares of REV Group, Inc. (NYSE:REVG) by 15.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,304,865 shares of the company’s stock after purchasing an additional 173,759 shares during the quarter. Geode Capital Management LLC’s holdings in REV Group were worth $36,621,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its holdings in REV Group by 355.5% in the 3rd quarter. Barclays PLC now owns 89,619 shares of the company’s stock valued at $2,515,000 after acquiring an additional 69,946 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of REV Group during the third quarter valued at about $277,000. State Street Corp increased its holdings in shares of REV Group by 3.3% in the third quarter. State Street Corp now owns 1,089,130 shares of the company’s stock worth $30,615,000 after purchasing an additional 35,066 shares during the last quarter. Stifel Financial Corp lifted its position in shares of REV Group by 40.4% in the third quarter. Stifel Financial Corp now owns 308,423 shares of the company’s stock worth $8,654,000 after buying an additional 88,798 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in REV Group by 31.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 315,530 shares of the company’s stock valued at $8,854,000 after buying an additional 76,100 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have issued reports on REVG shares. Robert W. Baird lifted their price objective on REV Group from $32.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. The Goldman Sachs Group boosted their price target on shares of REV Group from $25.00 to $28.50 and gave the stock a “sell” rating in a research report on Thursday, December 12th. DA Davidson upped 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. Finally, StockNews.com cut shares of REV Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.75.

REV Group Stock Performance

NYSE:REVG opened at $31.51 on Wednesday. The firm has a market capitalization of $1.64 billion, a PE ratio of 7.02 and a beta of 1.61. The stock’s fifty day moving average is $30.02 and its 200 day moving average is $28.22. REV Group, Inc. has a fifty-two week low of $16.00 and a fifty-two week high of $35.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.57 and a current ratio of 1.72.

REV Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 annualized dividend and a dividend yield of 0.76%. This is an increase from REV Group’s previous quarterly dividend of $0.05. REV Group’s dividend payout ratio is currently 5.35%.

REV Group Company 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.