REV Group (NYSE:REVG) Hits New 1-Year High After Dividend Announcement

REV Group, Inc. (NYSE:REVG) shares reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $35.96 and last traded at $34.08, with a volume of 529487 shares trading hands. The stock had previously closed at $29.60.

The newly announced dividend which will be paid on Friday, January 10th. Investors of record on Thursday, December 26th will be paid a dividend of $0.06 per share. This is a boost from REV Group’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, December 26th. REV Group’s dividend payout ratio is presently 4.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of REV Group from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. DA Davidson reissued a “buy” rating and set a $33.00 price objective on shares of REV Group in a report on Thursday, September 5th. Robert W. Baird raised their price target on shares of REV Group from $32.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday. Finally, The Goldman Sachs Group upped their price target on shares of REV Group from $25.00 to $28.50 and gave the stock a “sell” rating in a report on Thursday. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.25.

REV Group Stock Up 0.9 %

The stock has a market cap of $1.77 billion, a P/E ratio of 7.57 and a beta of 1.61. The company has a quick ratio of 0.57, a current ratio of 1.85 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $29.29 and a two-hundred day simple moving average of $27.89.

Hedge Funds Weigh In On REV Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its position in shares of REV Group by 68.3% in the 3rd quarter. FMR LLC now owns 6,173,446 shares of the company’s stock worth $173,227,000 after acquiring an additional 2,504,568 shares in the last quarter. Geode Capital Management LLC raised its holdings in REV Group by 15.4% in the third quarter. Geode Capital Management LLC now owns 1,304,865 shares of the company’s stock worth $36,621,000 after purchasing an additional 173,759 shares in the last quarter. State Street Corp lifted its position in REV Group by 3.3% during the third quarter. State Street Corp now owns 1,089,130 shares of the company’s stock valued at $30,615,000 after buying an additional 35,066 shares during the period. Nicholas Investment Partners LP lifted its position in REV Group by 4.8% during the second quarter. Nicholas Investment Partners LP now owns 755,001 shares of the company’s stock valued at $18,792,000 after buying an additional 34,555 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of REV Group by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 717,027 shares of the company’s stock valued at $20,120,000 after buying an additional 18,936 shares in the last quarter.

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.