Regal Rexnord Corporation $RRX Shares Acquired by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its holdings in Regal Rexnord Corporation by 33.0% during the first quarter, bringing their total shares to 30,336, valued at $3.45 million.
• Regal Rexnord's stock has received a consensus rating of "Buy" from analysts, with a target price range between $165.00 and $185.25.
• The company has declared a quarterly dividend of $0.35 per share, representing an annualized yield of 0.9%, to be paid on October 14th.

Candriam S.C.A. lifted its stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 33.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,336 shares of the company's stock after purchasing an additional 7,531 shares during the period. Candriam S.C.A.'s holdings in Regal Rexnord were worth $3,454,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC lifted its position in Regal Rexnord by 3.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,382 shares of the company's stock worth $370,000 after acquiring an additional 87 shares during the period. Oregon Public Employees Retirement Fund grew its position in Regal Rexnord by 0.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,549 shares of the company's stock valued at $1,543,000 after buying an additional 100 shares during the last quarter. Cetera Investment Advisers increased its stake in Regal Rexnord by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 2,920 shares of the company's stock valued at $332,000 after buying an additional 102 shares during the period. Greenleaf Trust raised its position in Regal Rexnord by 2.1% during the 1st quarter. Greenleaf Trust now owns 5,187 shares of the company's stock worth $591,000 after buying an additional 105 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of Regal Rexnord by 1.5% in the 1st quarter. Xponance Inc. now owns 7,866 shares of the company's stock worth $896,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 99.72% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RRX shares. Citigroup reaffirmed a "buy" rating and issued a $165.00 price objective (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. Barclays lifted their price target on Regal Rexnord from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. KeyCorp set a $180.00 price objective on Regal Rexnord and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Robert W. Baird boosted their target price on shares of Regal Rexnord from $167.00 to $172.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Sunday. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $185.25.

Regal Rexnord Price Performance

NYSE:RRX traded down $1.30 during mid-day trading on Thursday, hitting $151.42. 142,073 shares of the company's stock traded hands, compared to its average volume of 757,510. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 2.00. The company has a market cap of $10.05 billion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 1.52 and a beta of 1.18. The firm's 50 day simple moving average is $148.54 and its 200 day simple moving average is $132.31. Regal Rexnord Corporation has a 1 year low of $90.56 and a 1 year high of $185.28.

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

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's payout ratio is currently 37.23%.

About Regal Rexnord

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.