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

REV Group, Inc. (NYSE:REVG)’s share price gapped up before the market opened 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 traded.

The newly announced dividend which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, March 28th. REV Group’s dividend payout ratio (DPR) is currently 5.35%.

Analysts Set New Price Targets

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

REV Group Trading Up 7.3 %

The stock has a market capitalization of $1.56 billion, a PE ratio of 6.68 and a beta of 1.60. The firm has a 50 day moving average price of $32.71 and a 200 day moving average price of $30.45. The company has a quick ratio of 0.43, a current ratio of 1.72 and a debt-to-equity ratio of 0.20.

Insider Transactions at REV Group

In other news, CAO Joseph Ladue sold 4,533 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $32.21, for a total value of $146,007.93. Following the completion of the transaction, the chief accounting officer now directly owns 20,442 shares of the company’s stock, valued at $658,436.82. This represents a 18.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On REV Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its holdings in REV Group by 26.7% during the fourth 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 during the period. Vanguard Group Inc. boosted its holdings in shares of 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 during the period. Invesco Ltd. boosted its holdings in shares of REV Group by 43.4% in the fourth 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 during the period. Geode Capital Management LLC boosted its holdings in shares of REV Group by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 1,384,108 shares of the company’s stock worth $44,121,000 after acquiring an additional 79,243 shares during the period. Finally, State Street Corp boosted 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 acquiring an additional 35,066 shares during the period.

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.