Waratah Capital Advisors Ltd. Grows Holdings in Regal Rexnord Corporation $RRX

Waratah Capital Advisors Ltd. boosted its holdings in shares of Regal Rexnord Corporation (NYSE:RRX) by 36.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 89,559 shares of the company’s stock after purchasing an additional 23,700 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Regal Rexnord were worth $12,982,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers boosted its stake in shares of Regal Rexnord by 6.7% during the second quarter. Cetera Investment Advisers now owns 3,116 shares of the company’s stock worth $452,000 after buying an additional 196 shares during the period. SG Americas Securities LLC acquired a new position in Regal Rexnord in the 2nd quarter valued at about $1,402,000. Pinnbrook Capital Management LP purchased a new stake in Regal Rexnord during the 2nd quarter valued at approximately $8,259,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Regal Rexnord by 7.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,044 shares of the company’s stock worth $2,471,000 after acquiring an additional 1,213 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of Regal Rexnord by 4.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 25,170 shares of the company’s stock valued at $3,649,000 after purchasing an additional 1,183 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RRX has been the subject of several analyst reports. KeyCorp cut their price target on Regal Rexnord from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Zacks Research cut shares of Regal Rexnord from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a report on Wednesday, October 8th. Barclays reiterated an “overweight” rating and set a $165.00 price target on shares of Regal Rexnord in a research note on Monday, November 3rd. Finally, 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 report on Tuesday, September 16th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and an average target price of $184.63.

Regal Rexnord Trading Down 0.1%

Shares of RRX opened at $137.36 on Friday. Regal Rexnord Corporation has a twelve month low of $90.56 and a twelve month high of $182.70. 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 market capitalization of $9.12 billion, a P/E ratio of 35.49, a PEG ratio of 1.52 and a beta of 1.19. The firm’s 50-day moving average is $142.25 and its two-hundred day moving average is $142.82.

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

Regal Rexnord Announces Dividend

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

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.