Principal Financial Group Inc. Invests $3.18 Million in REV Group, Inc. $REVG

Principal Financial Group Inc. acquired a new position in REV Group, Inc. (NYSE:REVG) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 56,038 shares of the company’s stock, valued at approximately $3,176,000. Principal Financial Group Inc. owned 0.11% of REV Group as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in shares of REV Group by 22,600.0% in the third quarter. Covestor Ltd now owns 681 shares of the company’s stock worth $39,000 after buying an additional 678 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in REV Group in the 2nd quarter worth approximately $38,000. Farther Finance Advisors LLC raised its holdings in shares of REV Group by 19.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,131 shares of the company’s stock worth $64,000 after acquiring an additional 181 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of REV Group by 5,215.4% during the 2nd quarter. AlphaQuest LLC now owns 1,382 shares of the company’s stock worth $66,000 after acquiring an additional 1,356 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of REV Group during the 3rd quarter valued at approximately $79,000.

Analyst Upgrades and Downgrades

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

REV Group Stock Performance

Shares of NYSE:REVG opened at $63.90 on Tuesday. The business’s 50-day moving average is $63.80 and its 200 day moving average is $58.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.49. REV Group, Inc. has a 1 year low of $26.51 and a 1 year high of $69.92. The firm has a market capitalization of $3.12 billion, a P/E ratio of 33.46 and a beta of 1.14.

REV Group (NYSE:REVG) last released its quarterly earnings data 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. The business had revenue of $664.40 million during the quarter, compared to analyst estimates of $646.77 million. REV Group had a return on equity of 31.67% and a net margin of 3.86%.The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. On average, research analysts predict that REV Group, Inc. will post 2.12 earnings per share for the current fiscal year.

REV Group Announces Dividend

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