Envestnet Portfolio Solutions Inc. Grows Position in Regal Rexnord Corporation $RRX

Envestnet Portfolio Solutions Inc. boosted its holdings in Regal Rexnord Corporation (NYSE:RRX) by 222.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,143 shares of the company’s stock after acquiring an additional 4,235 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Regal Rexnord were worth $890,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of RRX. State of Alaska Department of Revenue grew its holdings in Regal Rexnord by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 7,754 shares of the company’s stock valued at $882,000 after purchasing an additional 200 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Regal Rexnord by 8.1% in the first quarter. Avior Wealth Management LLC now owns 3,205 shares of the company’s stock valued at $365,000 after purchasing an additional 239 shares during the last quarter. Westhampton Capital LLC grew its holdings in Regal Rexnord by 40.1% in the first quarter. Westhampton Capital LLC now owns 16,895 shares of the company’s stock valued at $1,923,000 after purchasing an additional 4,840 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Regal Rexnord by 48.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,548 shares of the company’s stock valued at $404,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Steph & Co. grew its holdings in Regal Rexnord by 31.2% in the first quarter. Steph & Co. now owns 4,923 shares of the company’s stock valued at $560,000 after purchasing an additional 1,171 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Down 2.3%

Shares of NYSE:RRX opened at $140.41 on Monday. The stock’s 50-day moving average price is $145.05 and its two-hundred day moving average price is $137.19. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Regal Rexnord Corporation has a 12-month low of $90.56 and a 12-month high of $185.28. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 1.41 and a beta of 1.16.

Regal Rexnord (NYSE:RRX) last issued its quarterly 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 firm had revenue of $1.85 billion for the quarter. On average, research analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RRX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on Regal Rexnord in a report on Monday, September 15th. They issued an “overweight” rating and a $200.00 target price on the stock. The Goldman Sachs Group lowered their target price on Regal Rexnord from $192.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Wall Street Zen lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 21st. Finally, Barclays decreased their price objective on Regal Rexnord from $163.00 to $161.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.