TimesSquare Capital Management LLC purchased a new stake in Regal Rexnord Corporation (NYSE:RRX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 465,372 shares of the company's stock, valued at approximately $110,847,000. Regal Rexnord makes up about 1.6% of TimesSquare Capital Management LLC's holdings, making the stock its 13th largest position. TimesSquare Capital Management LLC owned about 0.70% of Regal Rexnord as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of Regal Rexnord by 81.6% in the 4th quarter. Covestor Ltd now owns 178 shares of the company's stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Clearstead Trust LLC acquired a new stake in shares of Regal Rexnord during the 2nd quarter worth about $25,000. Geneos Wealth Management Inc. lifted its stake in Regal Rexnord by 135.1% during the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock worth $25,000 after purchasing an additional 127 shares during the last quarter. Garner Asset Management Corp acquired a new position in Regal Rexnord in the fourth quarter valued at approximately $27,000. Finally, IFP Advisors Inc boosted its holdings in Regal Rexnord by 34.0% in the fourth quarter. IFP Advisors Inc now owns 193 shares of the company's stock valued at $27,000 after purchasing an additional 49 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CFO Robert Rehard sold 6,499 shares of Regal Rexnord stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $1,299,800.00. Following the transaction, the chief financial officer directly owned 27,965 shares in the company, valued at $5,593,000. This trade represents a 18.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.63% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
RRX has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. UBS Group set a $260.00 target price on shares of Regal Rexnord in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of Regal Rexnord in a research report on Monday, July 20th. They issued a "buy" rating and a $286.00 target price on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Regal Rexnord in a research report on Friday, July 17th. Finally, Oppenheimer restated an "outperform" rating on shares of Regal Rexnord in a research note on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.92.
Check Out Our Latest Stock Report on Regal Rexnord
Regal Rexnord Stock Performance
Shares of RRX stock opened at $174.71 on Tuesday. The stock has a market capitalization of $11.63 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 1.31 and a beta of 1.09. Regal Rexnord Corporation has a 52-week low of $127.96 and a 52-week high of $247.80. The stock's 50-day moving average price is $207.79 and its 200 day moving average price is $203.82. The company has a quick ratio of 1.16, a current ratio of 2.28 and a debt-to-equity ratio of 0.66.
Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.41. Regal Rexnord had a return on equity of 9.93% and a net margin of 5.35%.The company had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same period last year, the firm earned $2.48 EPS. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. As a group, equities research analysts forecast that Regal Rexnord Corporation will post 10.68 EPS for the current year.
Regal Rexnord Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Regal Rexnord's dividend payout ratio (DPR) is currently 28.87%.
About Regal Rexnord
(
Free Report)
Regal Rexnord Corporation NYSE: RRX is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.
The company's operations are organized into multiple business segments that address distinct customer needs.
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