Thrivent Financial for Lutherans Purchases 24,156 Shares of REV Group, Inc. $REVG

Thrivent Financial for Lutherans grew its holdings in shares of REV Group, Inc. (NYSE:REVG) by 23.5% in the third quarter, HoldingsChannel.com reports. The fund owned 126,925 shares of the company’s stock after acquiring an additional 24,156 shares during the quarter. Thrivent Financial for Lutherans’ holdings in REV Group were worth $7,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its position in shares of REV Group by 338.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 970,595 shares of the company’s stock valued at $46,191,000 after purchasing an additional 749,113 shares in the last quarter. American Century Companies Inc. lifted its stake in REV Group by 46.7% in the second quarter. American Century Companies Inc. now owns 944,647 shares of the company’s stock valued at $44,956,000 after buying an additional 300,793 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of REV Group during the 2nd quarter worth approximately $9,990,000. Bragg Financial Advisors Inc grew its position in shares of REV Group by 52.7% during the 2nd quarter. Bragg Financial Advisors Inc now owns 562,270 shares of the company’s stock worth $26,758,000 after buying an additional 193,962 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of REV Group by 125.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 255,427 shares of the company’s stock valued at $12,156,000 after acquiring an additional 142,243 shares in the last quarter.

Analyst Upgrades and Downgrades

REVG has been the subject of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of REV Group in a report on Wednesday, December 24th. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price target (down from $64.00) on shares of REV Group in a research note on Monday, December 1st. Morgan Stanley set a $55.00 price target on REV Group in a report on Tuesday, November 4th. Zacks Research upgraded REV Group from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Finally, DA Davidson cut REV Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $57.00 in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, REV Group currently has a consensus rating of “Hold” and an average price target of $49.25.

REV Group Stock Performance

Shares of REVG opened at $63.50 on Friday. The firm has a market capitalization of $3.10 billion, a P/E ratio of 33.25 and a beta of 1.17. REV Group, Inc. has a 52 week low of $26.51 and a 52 week high of $69.92. The stock has a 50 day moving average price of $62.56 and a two-hundred day moving average price of $57.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.49 and a current ratio of 1.51.

REV Group (NYSE:REVG) last posted its earnings results on Wednesday, December 10th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. REV Group had a return on equity of 31.67% and a net margin of 3.86%.The company had revenue of $664.40 million for the quarter, compared to analyst estimates of $646.77 million. During the same quarter last year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts forecast that REV Group, Inc. will post 2.12 earnings per share for the current fiscal year.

REV Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, December 24th. REV Group’s payout ratio is currently 12.57%.

About REV Group

REV Group, Inc (NYSE: REVG) is a diversified manufacturer of specialty vehicles serving public safety, healthcare, transportation and recreation markets. The company designs, engineers and produces a broad range of products, including fire and emergency apparatus, transit and shuttle buses, work trucks, ambulances and recreational vehicles. Through its integrated platform, REV Group combines engineering expertise with customer-focused assembly to deliver purpose-built solutions that meet the exact specifications of fleet operators, municipalities and individual consumers.

The company’s product portfolio is organized into three primary segments.