VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 22,273 Regal Rexnord Corporation $RRX

Key Points

• The Virginia Retirement Systems purchased 22,273 shares of Regal Rexnord Corporation valued at approximately $3.23 million in Q2.
• Institutional investors and hedge funds now own 99.72% of Regal Rexnord's stock, reflecting strong support from major financial entities.
• Regal Rexnord's shares opened at $145.19, showing a 3.4% increase, with analysts projecting a year-end EPS of 9.95.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,273 shares of the company's stock, valued at approximately $3,229,000.

Other hedge funds have also recently modified their holdings of the company. Applied Finance Capital Management LLC acquired a new position in Regal Rexnord in the 2nd quarter worth approximately $239,000. Nordea Investment Management AB purchased a new position in shares of Regal Rexnord during the 2nd quarter valued at approximately $224,889,000. WCM Investment Management LLC lifted its position in shares of Regal Rexnord by 43.2% during the 2nd quarter. WCM Investment Management LLC now owns 157,677 shares of the company's stock valued at $23,101,000 after buying an additional 47,595 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Regal Rexnord by 222.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,143 shares of the company's stock valued at $890,000 after buying an additional 4,235 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Regal Rexnord by 78.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,542 shares of the company's stock valued at $1,239,000 after purchasing an additional 3,752 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company's stock.

Regal Rexnord Stock Up 3.4%

Shares of RRX opened at $145.19 on Tuesday. Regal Rexnord Corporation has a 52-week low of $90.56 and a 52-week high of $185.28. The company has a market capitalization of $9.64 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The stock has a fifty day simple moving average of $145.19 and a two-hundred day simple moving average of $137.52. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%.The business had revenue of $1.85 billion during the quarter. As a group, equities analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RRX shares. Wall Street Zen lowered Regal Rexnord from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 21st. Citigroup restated 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. JPMorgan Chase & Co. started coverage on Regal Rexnord in a report on Monday, September 15th. They issued an "overweight" rating and a $200.00 price objective on the stock. Barclays decreased their price objective on Regal Rexnord from $163.00 to $161.00 and set an "overweight" rating on the stock in a report on Tuesday, September 16th. Finally, KeyCorp decreased their price objective on Regal Rexnord from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Tuesday, October 14th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $180.38.

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.

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