REV Group (NYSE:REVG) Shares Gap Up Following Dividend Announcement

REV Group, Inc. (NYSE:REVG) shares gapped up prior to trading on Wednesday after the company announced a dividend. The stock had previously closed at $27.30, but opened at $29.59. REV Group shares last traded at $26.95, with a volume of 163,978 shares.

The newly announced dividend which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.87%. REV Group’s dividend payout ratio is presently 5.35%.

Analyst Ratings Changes

Several analysts have issued reports on REVG shares. Robert W. Baird upped their price objective on REV Group from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. DA Davidson increased their price target on REV Group from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group boosted their price objective on REV Group from $25.00 to $28.50 and gave the company a “sell” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.75.

REV Group Stock Up 0.5 %

The firm has a market capitalization of $1.43 billion, a P/E ratio of 6.10 and a beta of 1.60. The firm’s fifty day moving average price is $32.78 and its 200-day moving average price is $30.47. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43.

Insider Activity

In related news, CAO Joseph Ladue sold 4,533 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $32.21, for a total value of $146,007.93. Following the sale, the chief accounting officer now directly owns 20,442 shares in the company, valued at $658,436.82. The trade was a 18.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On REV Group

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of REV Group by 68.3% in the third quarter. FMR LLC now owns 6,173,446 shares of the company’s stock valued at $173,227,000 after purchasing an additional 2,504,568 shares in the last quarter. Invesco Ltd. lifted its stake in REV Group by 43.4% in the 4th quarter. Invesco Ltd. now owns 1,731,557 shares of the company’s stock worth $55,185,000 after acquiring an additional 524,369 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in REV Group during the 4th quarter worth about $9,749,000. SG Capital Management LLC purchased a new position in REV Group during the 4th quarter valued at about $8,203,000. Finally, Anthracite Investment Company Inc. purchased a new position in REV Group during the 3rd quarter valued at about $6,334,000.

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.