Federation des caisses Desjardins du Quebec Buys 7,279 Shares of Regal Rexnord Corporation $RRX

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Regal Rexnord Corporation by 54.3%, acquiring an additional 7,279 shares, bringing its total to 20,686 shares valued at approximately $2,355,000.
• Equities analysts have issued mixed ratings on Regal Rexnord, with some upgrades and downgrades; the stock currently has a consensus rating of "Buy" and an average target price of $185.25.
• Regal Rexnord recently announced a quarterly dividend of $0.35 per share, reflecting a yield of 1.0%, with the payout scheduled for October 14th to investors of record on September 30th.

Federation des caisses Desjardins du Quebec grew its position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) by 54.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,686 shares of the company's stock after buying an additional 7,279 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Regal Rexnord were worth $2,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in RRX. Cetera Investment Advisers grew its holdings in shares of Regal Rexnord by 7.1% during the fourth quarter. Cetera Investment Advisers now owns 2,818 shares of the company's stock valued at $437,000 after buying an additional 187 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Regal Rexnord by 1,869.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 97,912 shares of the company's stock worth $15,189,000 after purchasing an additional 92,940 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in Regal Rexnord in the fourth quarter worth approximately $7,601,000. Jefferies Financial Group Inc. purchased a new stake in Regal Rexnord in the fourth quarter worth approximately $1,427,000. Finally, Lighthouse Investment Partners LLC boosted its holdings in Regal Rexnord by 1,089.4% in the fourth quarter. Lighthouse Investment Partners LLC now owns 39,000 shares of the company's stock worth $6,050,000 after purchasing an additional 35,721 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analysts Set New Price Targets

RRX has been the topic of several research reports. Barclays raised their target price on shares of Regal Rexnord from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Citigroup restated a "buy" rating and issued a $165.00 target price (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. KeyCorp set a $180.00 target price on shares of Regal Rexnord and gave the stock an "overweight" rating in a report on Thursday, June 26th. The Goldman Sachs Group raised their target price on shares of Regal Rexnord from $173.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Regal Rexnord currently has a consensus rating of "Buy" and an average target price of $185.25.

Regal Rexnord Price Performance

Shares of RRX stock traded down $6.25 on Friday, hitting $138.68. 1,039,851 shares of the stock traded hands, compared to its average volume of 639,079. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 1.46 and a beta of 1.18. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $185.28. The firm has a 50 day simple moving average of $148.38 and a two-hundred day simple moving average of $133.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.93.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.42 by $0.06. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Regal Rexnord had a net margin of 4.28% and a return on equity of 9.73%. The company's revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $2.29 EPS. Regal Rexnord has set its FY 2025 guidance at 9.700-10.300 EPS. As a group, equities research analysts predict that Regal Rexnord Corporation will post 9.95 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's dividend payout ratio (DPR) is presently 37.23%.

Regal Rexnord 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.