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

REV Group, Inc. (NYSE:REVG) shares gapped up prior to trading on Wednesday following a dividend announcement from the company. 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 changing hands.

The newly announced dividend which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.86%. REV Group’s dividend payout ratio (DPR) is presently 5.35%.

Analyst Ratings Changes

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

REV Group Price Performance

The stock has a market capitalization of $1.46 billion, a P/E ratio of 6.23 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.43 and a current ratio of 1.72. The firm has a fifty day moving average price of $32.78 and a two-hundred day moving average price of $30.47.

Insider Activity at REV Group

In related news, CAO Joseph Ladue sold 4,533 shares of the firm’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 transaction, the chief accounting officer now owns 20,442 shares of the company’s stock, valued at approximately $658,436.82. This trade represents a 18.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in REVG. McIlrath & Eck LLC increased its stake in shares of REV Group by 31.5% in the 4th quarter. McIlrath & Eck LLC now owns 1,435 shares of the company’s stock worth $46,000 after purchasing an additional 344 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in REV Group by 27.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,435 shares of the company’s stock valued at $3,520,000 after purchasing an additional 23,935 shares during the period. Vident Advisory LLC increased its position in REV Group by 5.2% in the fourth quarter. Vident Advisory LLC now owns 16,348 shares of the company’s stock worth $521,000 after buying an additional 805 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of REV Group by 60.2% in the fourth quarter. Two Sigma Advisers LP now owns 18,900 shares of the company’s stock worth $602,000 after buying an additional 7,100 shares during the period. Finally, Seven Six Capital Management LLC bought a new position in shares of REV Group in the fourth quarter worth about $2,814,000.

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.