Geode Capital Management LLC Purchases 173,759 Shares of REV Group, Inc. (NYSE:REVG)

Geode Capital Management LLC lifted its position in shares of REV Group, Inc. (NYSE:REVG) by 15.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,304,865 shares of the company’s stock after acquiring an additional 173,759 shares during the period. Geode Capital Management LLC owned approximately 2.51% of REV Group worth $36,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in shares of REV Group by 67.5% in the 2nd quarter. Amalgamated Bank now owns 1,777 shares of the company’s stock worth $44,000 after purchasing an additional 716 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in REV Group by 27.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,158 shares of the company’s stock worth $61,000 after buying an additional 461 shares in the last quarter. Atria Investments Inc bought a new position in REV Group during the 3rd quarter valued at about $201,000. DekaBank Deutsche Girozentrale lifted its stake in REV Group by 257.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 7,525 shares of the company’s stock valued at $187,000 after acquiring an additional 5,420 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in shares of REV Group during the 3rd quarter valued at about $229,000.

REV Group Price Performance

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

REV Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 26th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.76%. This is a positive change from REV Group’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, December 26th. REV Group’s dividend payout ratio is currently 5.35%.

Wall Street Analysts Forecast Growth

REVG has been the topic of a number of research analyst reports. DA Davidson increased their price objective on shares of REV Group from $33.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, December 13th. The Goldman Sachs Group raised 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. StockNews.com cut REV Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Robert W. Baird raised their target price on REV Group from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.75.

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.