Principal Financial Group Inc. Acquires Shares of 56,038 REV Group, Inc. $REVG

Principal Financial Group Inc. bought a new position in REV Group, Inc. (NYSE:REVG) during the third quarter, Holdings Channel.com reports. The institutional investor bought 56,038 shares of the company’s stock, valued at approximately $3,176,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of REV Group in the 3rd quarter valued at approximately $1,221,000. Lisanti Capital Growth LLC grew its position in REV Group by 122.5% in the third quarter. Lisanti Capital Growth LLC now owns 79,182 shares of the company’s stock worth $4,487,000 after acquiring an additional 43,587 shares during the period. Virtue Capital Management LLC acquired a new stake in REV Group during the third quarter worth $942,000. Savant Capital LLC purchased a new stake in REV Group in the second quarter valued at $302,000. Finally, JPMorgan Chase & Co. lifted 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 purchasing an additional 142,243 shares during the last quarter.

REV Group Stock Performance

NYSE REVG opened at $63.90 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.49 and a current ratio of 1.51. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 33.46 and a beta of 1.14. The firm has a 50 day simple moving average of $63.80 and a 200-day simple moving average of $58.15. REV Group, Inc. has a one year low of $26.51 and a one year high of $69.92.

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

REV Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were issued a $0.06 dividend. The ex-dividend date was Wednesday, December 24th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. REV Group’s dividend payout ratio (DPR) is 12.57%.

Wall Street Analysts Forecast Growth

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

REV Group 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.