Envestnet Asset Management Inc. Raises Stake in REV Group, Inc. (NYSE:REVG)

Envestnet Asset Management Inc. raised its stake in REV Group, Inc. (NYSE:REVG - Free Report) by 96.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,805 shares of the company's stock after purchasing an additional 8,741 shares during the period. Envestnet Asset Management Inc.'s holdings in REV Group were worth $567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in shares of REV Group by 355.5% in the 3rd quarter. Barclays PLC now owns 89,619 shares of the company's stock valued at $2,515,000 after purchasing an additional 69,946 shares during the period. Franklin Resources Inc. grew its position in shares of REV Group by 0.8% during the third quarter. Franklin Resources Inc. now owns 99,636 shares of the company's stock worth $2,776,000 after acquiring an additional 766 shares during the last quarter. Principal Financial Group Inc. raised its position in REV Group by 151.4% in the 3rd quarter. Principal Financial Group Inc. now owns 50,252 shares of the company's stock valued at $1,410,000 after purchasing an additional 30,262 shares during the last quarter. Hennessy Advisors Inc. raised its position in REV Group by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 460,900 shares of the company's stock valued at $14,689,000 after purchasing an additional 29,400 shares during the last quarter. Finally, Ellsworth Advisors LLC acquired a new stake in REV Group during the 4th quarter worth $681,000.

REV Group Stock Performance

REV Group stock traded up $0.22 during trading hours on Friday, reaching $36.02. 92,509 shares of the stock were exchanged, compared to its average volume of 679,078. The stock has a market cap of $1.86 billion, a P/E ratio of 8.02 and a beta of 1.12. The firm's 50 day moving average is $31.52 and its 200 day moving average is $31.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.43 and a current ratio of 1.72. REV Group, Inc. has a 52-week low of $21.54 and a 52-week high of $36.36.

REV Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Friday, March 28th. REV Group's dividend payout ratio is presently 13.48%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley cut shares of REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 target price for the company. in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.