Candriam S.C.A. Takes Position in Regal Rexnord Co. (NYSE:RRX)

Candriam S.C.A. bought a new stake in Regal Rexnord Co. (NYSE:RRX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,805 shares of the company’s stock, valued at approximately $3,538,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CIBC Asset Management Inc grew its holdings in shares of Regal Rexnord by 3.2% in the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock valued at $325,000 after purchasing an additional 61 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in shares of Regal Rexnord by 2.7% in the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock valued at $436,000 after purchasing an additional 68 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Regal Rexnord by 30.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock valued at $71,000 after purchasing an additional 100 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Regal Rexnord by 45.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 337 shares of the company’s stock valued at $52,000 after purchasing an additional 105 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in shares of Regal Rexnord by 5.3% in the third quarter. Coldstream Capital Management Inc. now owns 2,430 shares of the company’s stock valued at $404,000 after purchasing an additional 123 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on RRX. Oppenheimer cut their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Citigroup dropped their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group initiated coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They set a “buy” rating and a $215.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $197.75.

Regal Rexnord Stock Down 0.9 %

Shares of RRX opened at $122.47 on Friday. The firm has a market capitalization of $8.12 billion, a P/E ratio of 41.52, a P/E/G ratio of 1.37 and a beta of 1.11. Regal Rexnord Co. has a 12-month low of $117.18 and a 12-month high of $185.28. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average price of $146.62 and a 200-day moving average price of $159.73.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. Equities research analysts expect that Regal Rexnord Co. will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is currently 47.46%.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.