Point72 Asset Management L.P. Invests $9.75 Million in REV Group, Inc. (NYSE:REVG)

Point72 Asset Management L.P. acquired a new stake in shares of REV Group, Inc. (NYSE:REVG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 305,907 shares of the company’s stock, valued at approximately $9,749,000.

Other large investors have also made changes to their positions in the company. FMR LLC raised its holdings in REV Group by 26.7% in the 4th quarter. FMR LLC now owns 7,819,739 shares of the company’s stock valued at $249,215,000 after acquiring an additional 1,646,293 shares during the last quarter. Vanguard Group Inc. increased its stake in REV Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,238,928 shares of the company’s stock valued at $166,965,000 after purchasing an additional 39,323 shares during the last quarter. Invesco Ltd. lifted its position in REV Group by 43.4% during the fourth quarter. Invesco Ltd. now owns 1,731,557 shares of the company’s stock worth $55,185,000 after buying an additional 524,369 shares during the period. Geode Capital Management LLC grew its holdings in REV Group by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 1,384,108 shares of the company’s stock valued at $44,121,000 after buying an additional 79,243 shares during the period. Finally, Brightline Capital Management LLC increased its stake in shares of REV Group by 1.2% during the 4th quarter. Brightline Capital Management LLC now owns 656,000 shares of the company’s stock valued at $20,907,000 after acquiring an additional 8,000 shares during the last quarter.

Analysts Set New Price Targets

Separately, Morgan Stanley cut shares of REV Group from an “equal weight” rating to an “underweight” rating and set a $33.00 price objective for the company. in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $34.63.

REV Group Stock Up 1.1%

REVG stock opened at $38.24 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43. The firm has a market capitalization of $1.98 billion, a P/E ratio of 8.52 and a beta of 1.12. REV Group, Inc. has a 52-week low of $21.54 and a 52-week high of $38.78. The company’s 50 day simple moving average is $32.49 and its 200-day simple moving average is $32.06.

REV Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, March 28th. REV Group’s dividend payout ratio (DPR) is currently 13.48%.

REV Group 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.