Woodline Partners LP Invests $5.60 Million in Regal Rexnord Corporation $RRX

Key Points

• Woodline Partners LP has acquired a new stake in Regal Rexnord Corporation, purchasing 49,163 shares valued at approximately $5.6 million, representing about 0.07% of the company's stock.
• Regal Rexnord reported a quarterly earnings of $2.48 per share, exceeding analysts' expectations, and set its FY 2025 EPS guidance between 9.700-10.300.
• The company has declared a quarterly dividend of $0.35 per share, which will be distributed to investors on October 14th, resulting in an annualized yield of 1.0% and a payout ratio of 37.23%.

Woodline Partners LP bought a new position in shares of Regal Rexnord Corporation (NYSE:RRX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 49,163 shares of the company's stock, valued at approximately $5,597,000. Woodline Partners LP owned 0.07% of Regal Rexnord at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in Regal Rexnord during the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC boosted its position in Regal Rexnord by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 268 shares of the company's stock worth $31,000 after buying an additional 138 shares during the period. Jones Financial Companies Lllp boosted its position in Regal Rexnord by 91.6% during the 1st quarter. Jones Financial Companies Lllp now owns 617 shares of the company's stock worth $70,000 after buying an additional 295 shares during the period. Headlands Technologies LLC bought a new position in Regal Rexnord during the 1st quarter worth approximately $81,000. Finally, Signaturefd LLC raised its holdings in Regal Rexnord by 25.5% during the 1st quarter. Signaturefd LLC now owns 911 shares of the company's stock worth $104,000 after purchasing an additional 185 shares during the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on RRX. The Goldman Sachs Group lowered their price target on shares of Regal Rexnord from $192.00 to $170.00 and set a "buy" rating for the company in a report on Tuesday. Wall Street Zen upgraded shares of Regal Rexnord from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Citigroup restated a "buy" rating and set a $165.00 price target (up previously from $145.00) on shares of Regal Rexnord in a report on Tuesday, June 24th. JPMorgan Chase & Co. began coverage on shares of Regal Rexnord in a report on Monday. They set an "overweight" rating and a $200.00 price target for the company. Finally, KeyCorp set a $180.00 price target on shares of Regal Rexnord and gave the stock an "overweight" rating in a report on Thursday, June 26th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $183.67.

Regal Rexnord Stock Up 3.1%

RRX stock traded up $4.37 during midday trading on Thursday, reaching $144.70. 218,487 shares of the company's stock traded hands, compared to its average volume of 757,614. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 38.49, a P/E/G ratio of 1.42 and a beta of 1.18. The firm's fifty day moving average price is $147.84 and its 200-day moving average price is $133.28. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Regal Rexnord Corporation has a 52 week low of $90.56 and a 52 week high of $185.28.

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

Regal Rexnord Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Regal Rexnord's payout ratio is 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.