JPMorgan Chase & Co. Boosts Position in REV Group, Inc. (NYSE:REVG)

JPMorgan Chase & Co. increased its position in shares of REV Group, Inc. (NYSE:REVG) by 249.5% during the 4th quarter, HoldingsChannel reports. The fund owned 191,481 shares of the company’s stock after acquiring an additional 136,700 shares during the quarter. JPMorgan Chase & Co.’s holdings in REV Group were worth $6,102,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of REVG. Planning Center Inc. purchased a new stake in REV Group in the fourth quarter valued at $223,000. RD Lewis Holdings Inc. purchased a new stake in REV Group in the 4th quarter valued at about $228,000. Commonwealth Equity Services LLC lifted its position in REV Group by 30.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,180 shares of the company’s stock valued at $324,000 after buying an additional 2,362 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in REV Group in the fourth quarter valued at about $364,000. Finally, Ieq Capital LLC purchased a new position in REV Group during the fourth quarter worth about $614,000.

REV Group Price Performance

REVG opened at $29.75 on Friday. The stock’s 50-day moving average price is $31.23 and its 200 day moving average price is $31.03. REV Group, Inc. has a 12-month low of $20.51 and a 12-month high of $36.00. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 6.63 and a beta of 1.22. The company has a current ratio of 1.72, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20.

REV Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.81%. REV Group’s dividend payout ratio is presently 13.48%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered shares of REV Group from an “equal weight” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.63.

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.