Rev Group (REVG) Declares $0.05 Dividend
Rev Group said on March 8, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.
At the current share price of $12.70 / share, the stock's dividend yield is 1.57%. Looking back five years and taking a sample every week, the average dividend yield has been 1.63%, the lowest has been 0.89%, and the highest has been 5.29%. The standard deviation of yields is 0.56 (n=178).
The current dividend yield is 0.10 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 4.99. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 1.06% Upside
As of March 8, 2023, the average one-year price target for Rev Group is $12.83. The forecasts range from a low of $9.09 to a high of $16.80. The average price target represents an increase of 1.06% from its latest reported closing price of $12.70.
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The projected annual revenue for Rev Group is $2,386MM, an increase of 0.33%. The projected annual non-GAAP EPS is $1.16.
What is the Fund Sentiment?
There are 297 funds or institutions reporting positions in Rev Group. This is a decrease of 3 owner(s) or 1.00% in the last quarter. Average portfolio weight of all funds dedicated to REVG is 0.21%, an increase of 3.46%. Total shares owned by institutions decreased in the last three months by 2.07% to 66,158K shares. The put/call ratio of REVG is 1.23, indicating a bearish outlook.
What are Large Shareholders Doing?
Aip holds 27,563K shares representing 46.06% ownership of the company. No change in the last quarter.
Pzena Investment Management holds 3,833K shares representing 6.41% ownership of the company. In it's prior filing, the firm reported owning 3,996K shares, representing a decrease of 4.24%. The firm decreased its portfolio allocation in REVG by 2.65% over the last quarter.
Alliancebernstein holds 3,094K shares representing 5.17% ownership of the company. In it's prior filing, the firm reported owning 3,066K shares, representing an increase of 0.92%. The firm increased its portfolio allocation in REVG by 7.34% over the last quarter.
Segall Bryant & Hamill holds 2,755K shares representing 4.60% ownership of the company. In it's prior filing, the firm reported owning 2,844K shares, representing a decrease of 3.22%. The firm increased its portfolio allocation in REVG by 3.84% over the last quarter.
FRVLX - Franklin Small Cap Value Fund holds 1,912K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 1,930K shares, representing a decrease of 0.95%. The firm increased its portfolio allocation in REVG by 17.31% over the last quarter.
REV Group Background Information
(This description is provided by the company.)
REV Group® (REVG) is a leading designer and manufacturer of specialty vehicles and related aftermarket parts and services. It serves a diversified customer base, primarily in the United States, through three segments: Fire & Emergency, Commercial, and Recreation. It provides customized vehicle solutions for applications, including essential needs for public services (ambulances, fire apparatus, school buses, and transit buses), commercial infrastructure (terminal trucks and industrial sweepers) and consumer leisure (recreational vehicles). Its diverse portfolio is made up of well-established principal vehicle brands, including many of the most recognizable names within their industry. Several of its brands pioneered their specialty vehicle product categories and date back more than 50 years.
This story originally appeared on Fintel.