Regal Rexnord Co. (NYSE:RRX) Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC lessened its position in shares of Regal Rexnord Co. (NYSE:RRX) by 9.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,097 shares of the company’s stock after selling 118 shares during the period. Quadrant Capital Group LLC’s holdings in Regal Rexnord were worth $162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Inceptionr LLC acquired a new position in shares of Regal Rexnord during the 4th quarter worth $376,000. Empire Life Investments Inc. acquired a new position in shares of Regal Rexnord during the 4th quarter worth $15,434,000. Nicholas Investment Partners LP raised its stake in shares of Regal Rexnord by 26.4% during the 4th quarter. Nicholas Investment Partners LP now owns 43,794 shares of the company’s stock worth $6,482,000 after buying an additional 9,140 shares during the last quarter. Roubaix Capital LLC acquired a new position in shares of Regal Rexnord during the 4th quarter worth $2,700,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Regal Rexnord by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock worth $522,892,000 after buying an additional 135,154 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

RRX opened at $157.84 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62. The business has a 50-day moving average of $167.72 and a two-hundred day moving average of $149.84. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.98 by $0.02. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.22 EPS. Sell-side analysts anticipate that Regal Rexnord Co. will post 9.88 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

Insider Buying and Selling at Regal Rexnord

In other news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the completion of the sale, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RRX. StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays cut their target price on shares of Regal Rexnord from $203.00 to $199.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Robert W. Baird boosted their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Oppenheimer boosted their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, KeyCorp boosted their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.60.

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.