Candriam S.C.A. Acquires New Shares in Regal Rexnord Co. (NYSE:RRX)

Candriam S.C.A. acquired a new stake in Regal Rexnord Co. (NYSE:RRX) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 22,805 shares of the company’s stock, valued at approximately $3,538,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in RRX. Robeco Institutional Asset Management B.V. raised its holdings in shares of Regal Rexnord by 0.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 32,427 shares of the company’s stock valued at $5,379,000 after acquiring an additional 289 shares in the last quarter. Atria Investments Inc bought a new stake in shares of Regal Rexnord in the third quarter valued at about $257,000. TimesSquare Capital Management LLC raised its holdings in shares of Regal Rexnord by 0.8% in the third quarter. TimesSquare Capital Management LLC now owns 651,586 shares of the company’s stock valued at $108,085,000 after acquiring an additional 5,331 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Regal Rexnord by 18.2% in the third quarter. Crossmark Global Holdings Inc. now owns 4,705 shares of the company’s stock valued at $780,000 after acquiring an additional 725 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Regal Rexnord in the third quarter worth about $229,000. 99.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on RRX shares. Barclays reduced their target price on shares of Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a report on Friday, February 14th. The Goldman Sachs Group boosted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Oppenheimer reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, February 7th. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Citigroup reduced their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $197.75.

Regal Rexnord Stock Performance

RRX opened at $122.47 on Friday. Regal Rexnord Co. has a 52-week low of $117.18 and a 52-week high of $185.28. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The company has a market cap of $8.12 billion, a P/E ratio of 41.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The firm’s 50-day moving average price is $146.62 and its 200-day moving average price is $159.73.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, equities analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.14%. Regal Rexnord’s dividend payout ratio is currently 47.46%.

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.