WCM Investment Management LLC Purchases 47,595 Shares of Regal Rexnord Corporation $RRX

Key Points

• WCM Investment Management LLC increased its stake in Regal Rexnord Corporation by 43.2% in Q2, acquiring an additional 47,595 shares, bringing its total ownership to 157,677 shares valued at approximately $23.1 million.
• Regal Rexnord recently reported a quarterly earnings per share of $2.76, with a revenue of $1.85 billion for the same period, and analysts estimate an EPS of 9.95 for the current fiscal year.
• The company announced a quarterly dividend of $0.35 per share, yielding 1.0%, which is part of an annualized dividend payout expected to total $1.40.

WCM Investment Management LLC raised its position in Regal Rexnord Corporation (NYSE:RRX - Free Report) by 43.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 157,677 shares of the company's stock after purchasing an additional 47,595 shares during the period. WCM Investment Management LLC owned approximately 0.24% of Regal Rexnord worth $23,101,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its stake in Regal Rexnord by 222.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,143 shares of the company's stock valued at $890,000 after purchasing an additional 4,235 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Regal Rexnord by 78.3% in the second 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. Summit Place Financial Advisors LLC acquired a new position in shares of Regal Rexnord in the 2nd quarter valued at approximately $400,000. Tandem Capital Management Corp ADV grew its position in shares of Regal Rexnord by 5.6% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 13,914 shares of the company's stock valued at $2,017,000 after purchasing an additional 740 shares during the period. Finally, Tectonic Advisors LLC grew its position in shares of Regal Rexnord by 16.5% in the 2nd quarter. Tectonic Advisors LLC now owns 3,266 shares of the company's stock valued at $474,000 after purchasing an additional 463 shares during the period. Institutional investors own 99.72% of the company's stock.

Regal Rexnord Trading Up 1.5%

NYSE:RRX opened at $145.34 on Thursday. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $185.28. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $144.97 and a two-hundred day moving average price of $136.46. The company has a market cap of $9.65 billion, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16.

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

Regal Rexnord Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. Regal Rexnord's dividend payout ratio is currently 37.23%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup reiterated a "buy" rating and issued a $165.00 price objective (up from $145.00) on shares of Regal Rexnord in a research report on Tuesday, June 24th. KeyCorp decreased their price objective on Regal Rexnord from $180.00 to $170.00 and set an "overweight" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. assumed coverage on Regal Rexnord in a research report on Monday, September 15th. They issued an "overweight" rating and a $200.00 price objective for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. Finally, Barclays decreased their price objective on Regal Rexnord from $163.00 to $161.00 and set an "overweight" rating for the company in a research report on Tuesday, September 16th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.38.

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.

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