Quadrant Capital Group LLC Has $780,000 Position in Regal Rexnord Corporation $RRX

Quadrant Capital Group LLC raised its stake in Regal Rexnord Corporation (NYSE:RRX) by 51.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,384 shares of the company’s stock after purchasing an additional 1,818 shares during the quarter. Quadrant Capital Group LLC’s holdings in Regal Rexnord were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB purchased a new position in shares of Regal Rexnord during the 2nd quarter valued at $224,889,000. Nuveen LLC acquired a new stake in Regal Rexnord during the first quarter valued at $117,996,000. Invesco Ltd. grew its stake in Regal Rexnord by 76.3% in the first quarter. Invesco Ltd. now owns 932,829 shares of the company’s stock valued at $106,203,000 after purchasing an additional 403,845 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Regal Rexnord by 30.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,712,297 shares of the company’s stock worth $194,955,000 after purchasing an additional 396,737 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of Regal Rexnord during the 1st quarter worth about $25,678,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock opened at $144.97 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $141.52 and a 200-day simple moving average of $143.83. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 37.46, a PEG ratio of 1.52 and a beta of 1.19. Regal Rexnord Corporation has a 1-year low of $90.56 and a 1-year high of $177.48.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The business had revenue of $1.85 billion for the quarter. Regal Rexnord had a net margin of 4.38% and a return on equity of 9.75%. On average, sell-side analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Regal Rexnord’s payout ratio is currently 36.18%.

Wall Street Analysts Forecast Growth

RRX has been the topic of a number of research reports. Wall Street Zen downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Regal Rexnord in a research report on Wednesday, October 8th. Robert W. Baird set a $212.00 price target on shares of Regal Rexnord in a research note on Friday, October 31st. The Goldman Sachs Group reduced their price objective on shares of Regal Rexnord from $192.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Finally, Zacks Research downgraded shares of Regal Rexnord from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $184.63.

Insiders Place Their Bets

In related news, CEO Louis V. Pinkham sold 35,935 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $146.20, for a total transaction of $5,253,697.00. Following the completion of the sale, the chief executive officer owned 103,262 shares in the company, valued at $15,096,904.40. This represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by insiders.

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.