JPMorgan Chase & Co. Purchases 283,706 Shares of REV Group, Inc. $REVG

JPMorgan Chase & Co. boosted its holdings in shares of REV Group, Inc. (NYSE:REVG) by 111.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 539,133 shares of the company’s stock after purchasing an additional 283,706 shares during the quarter. JPMorgan Chase & Co. owned about 1.10% of REV Group worth $30,553,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of REV Group by 298.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 546 shares of the company’s stock worth $31,000 after buying an additional 409 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in REV Group in the second quarter worth about $38,000. Covestor Ltd increased its stake in REV Group by 22,600.0% during the third quarter. Covestor Ltd now owns 681 shares of the company’s stock worth $39,000 after acquiring an additional 678 shares during the last quarter. Farther Finance Advisors LLC increased its stake in REV Group by 19.1% during the third quarter. Farther Finance Advisors LLC now owns 1,131 shares of the company’s stock worth $64,000 after acquiring an additional 181 shares during the last quarter. Finally, AlphaQuest LLC raised its position in REV Group by 5,215.4% during the second quarter. AlphaQuest LLC now owns 1,382 shares of the company’s stock valued at $66,000 after purchasing an additional 1,356 shares during the period.

REV Group Stock Performance

NYSE REVG opened at $63.90 on Friday. The stock has a market cap of $3.12 billion, a PE ratio of 33.46 and a beta of 1.14. REV Group, Inc. has a 12 month low of $26.51 and a 12 month high of $69.92. The company’s 50-day moving average price is $64.63 and its 200-day moving average price is $58.97. The company has a current ratio of 1.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.10.

REV Group (NYSE:REVG) last released its quarterly earnings data on Wednesday, December 10th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.05. The company had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $646.77 million. REV Group had a net margin of 3.86% and a return on equity of 31.67%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. Equities research analysts forecast that REV Group, Inc. will post 2.12 earnings per share for the current 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 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, December 24th. REV Group’s dividend payout ratio (DPR) is presently 12.57%.

Wall Street Analyst Weigh In

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

REV Group Company Profile

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.