Regal Rexnord Corporation $RRX Holdings Cut by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. reduced its stake in shares of Regal Rexnord Corporation (NYSE:RRX) by 97.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,437 shares of the company’s stock after selling 87,122 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Regal Rexnord were worth $350,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Granite Investment Partners LLC bought a new stake in shares of Regal Rexnord during the 2nd quarter worth about $1,309,000. Oppenheimer Asset Management Inc. increased its stake in shares of Regal Rexnord by 475.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 21,991 shares of the company’s stock valued at $3,154,000 after acquiring an additional 18,168 shares during the period. Nordea Investment Management AB raised its holdings in Regal Rexnord by 30.7% during the third quarter. Nordea Investment Management AB now owns 2,028,936 shares of the company’s stock worth $289,083,000 after purchasing an additional 476,802 shares in the last quarter. Prudential Financial Inc. lifted its position in Regal Rexnord by 233.6% in the second quarter. Prudential Financial Inc. now owns 45,281 shares of the company’s stock worth $6,564,000 after purchasing an additional 31,709 shares during the period. Finally, Stanley Capital Management LLC bought a new position in Regal Rexnord during the 2nd quarter valued at $19,367,000. 99.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regal Rexnord

In related news, EVP Cheryl Lewis sold 2,262 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $215.73, for a total value of $487,981.26. Following the completion of the sale, the executive vice president directly owned 13,219 shares in the company, valued at approximately $2,851,734.87. This represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Louis V. Pinkham sold 36,728 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $215.52, for a total value of $7,915,618.56. Following the transaction, the chief executive officer owned 83,337 shares in the company, valued at approximately $17,960,790.24. This trade represents a 30.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,194 shares of company stock worth $10,883,211 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on RRX. KeyCorp raised their price objective on shares of Regal Rexnord from $200.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Zacks Research upgraded shares of Regal Rexnord from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Barclays upped their price target on Regal Rexnord from $165.00 to $237.00 and gave the company an “overweight” rating in a report on Monday, February 9th. JPMorgan Chase & Co. lifted their target price on Regal Rexnord from $190.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Jefferies Financial Group lowered Regal Rexnord from a “buy” rating to a “hold” rating and cut their target price for the stock from $170.00 to $160.00 in a research report on Wednesday, December 10th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.50.

Regal Rexnord Trading Down 1.4%

Regal Rexnord stock opened at $220.57 on Thursday. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $229.30. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. The stock has a market cap of $14.67 billion, a P/E ratio of 52.52, a P/E/G ratio of 2.08 and a beta of 1.13. The company’s fifty day simple moving average is $172.25 and its 200-day simple moving average is $153.59.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Thursday, February 5th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. Regal Rexnord had a return on equity of 9.60% and a net margin of 4.71%.The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, sell-side analysts forecast that Regal Rexnord Corporation will post 9.95 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.6%. Regal Rexnord’s dividend payout ratio (DPR) is currently 33.33%.

About Regal Rexnord

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.