Wedge Capital Management L L P NC Invests $5.88 Million in Regal Rexnord Corporation $RRX

Key Points

• Wedge Capital Management L L P NC initiated a new position in Regal Rexnord (NYSE:RRX), acquiring 41,899 shares valued at approximately $5.88 million, roughly 0.06% of the company.
• Company insiders have been net sellers—CFO Robert Rehard sold 968 shares and Director Curtis W. Stoelting sold 4,500 shares—and insiders disposed of 53,451 shares worth about $11.39 million over the past 90 days (insiders now own 0.82%).
• Regal Rexnord posted Q4 EPS of $2.51 (beating estimates) on $1.52B revenue, has a market cap of $12.21B and a P/E of 43.66, declared a quarterly dividend of $0.35 (0.8% yield), and carries a "Moderate Buy" consensus with an average target of $228.50.

Wedge Capital Management L L P NC acquired a new position in Regal Rexnord Corporation (NYSE:RRX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 41,899 shares of the company's stock, valued at approximately $5,879,000. Wedge Capital Management L L P NC owned approximately 0.06% of Regal Rexnord as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new position in Regal Rexnord during the 3rd quarter valued at about $27,000. Root Financial Partners LLC acquired a new position in Regal Rexnord during the third quarter worth about $28,000. SJS Investment Consulting Inc. lifted its holdings in shares of Regal Rexnord by 95.1% in the third quarter. SJS Investment Consulting Inc. now owns 199 shares of the company's stock valued at $29,000 after purchasing an additional 97 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Regal Rexnord by 135.1% in the first quarter. Geneos Wealth Management Inc. now owns 221 shares of the company's stock valued at $25,000 after purchasing an additional 127 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Regal Rexnord in the third quarter valued at approximately $35,000. 99.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Robert Rehard sold 968 shares of Regal Rexnord stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $223.00, for a total value of $215,864.00. Following the completion of the sale, the chief financial officer owned 34,447 shares of the company's stock, valued at $7,681,681. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Curtis W. Stoelting sold 4,500 shares of the company's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $180.00, for a total value of $810,000.00. Following the completion of the transaction, the director owned 15,617 shares of the company's stock, valued at $2,811,060. The trade was a 22.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 53,451 shares of company stock worth $11,386,689 over the last ninety days. Company insiders own 0.82% of the company's stock.

Regal Rexnord Stock Performance

NYSE:RRX opened at $183.35 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 1.10. The firm has a market cap of $12.21 billion, a PE ratio of 43.66, a P/E/G ratio of 1.70 and a beta of 1.05. The firm has a 50 day simple moving average of $193.26 and a 200-day simple moving average of $161.06. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $229.30.

Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. Regal Rexnord's revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.34 earnings per share. On average, equities analysts expect that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Regal Rexnord's dividend payout ratio (DPR) is 33.33%.

Analysts Set New Price Targets

Several research analysts recently issued reports on RRX shares. Zacks Research upgraded Regal Rexnord from a "strong sell" rating to a "hold" rating in a research report on Tuesday, December 30th. The Goldman Sachs Group increased their target price on Regal Rexnord from $170.00 to $230.00 and gave the company a "buy" rating in a report on Monday, February 9th. KeyCorp raised their price target on Regal Rexnord from $200.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 10th. Jefferies Financial Group cut Regal Rexnord from a "buy" rating to a "hold" rating and cut their price target for the stock from $170.00 to $160.00 in a report on Wednesday, December 10th. Finally, Barclays upped their price objective on Regal Rexnord from $237.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, March 23rd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $228.50.

Regal Rexnord Company Profile

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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