Regal Beloit Corporation (RBC) Shares Bought by Denver Investment Advisors LLC
Denver Investment Advisors LLC increased its position in Regal Beloit Corporation (NYSE:RBC) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,815 shares of the industrial products company’s stock after buying an additional 502 shares during the period. Regal Beloit Corporation makes up approximately 1.0% of Denver Investment Advisors LLC’s portfolio, making the stock its 24th largest position. Denver Investment Advisors LLC’s holdings in Regal Beloit Corporation were worth $21,514,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Regal Beloit Corporation by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 476,010 shares of the industrial products company’s stock worth $36,010,000 after buying an additional 12,329 shares in the last quarter. Macquarie Group Ltd. increased its position in Regal Beloit Corporation by 0.6% in the first quarter. Macquarie Group Ltd. now owns 387,018 shares of the industrial products company’s stock worth $29,278,000 after buying an additional 2,216 shares during the last quarter. Hengehold Capital Management LLC acquired a new position in Regal Beloit Corporation during the first quarter worth about $359,000. Gotham Asset Management LLC increased its position in Regal Beloit Corporation by 56.3% in the first quarter. Gotham Asset Management LLC now owns 231,875 shares of the industrial products company’s stock worth $17,541,000 after buying an additional 83,548 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Regal Beloit Corporation by 0.4% in the first quarter. Fisher Asset Management LLC now owns 578,923 shares of the industrial products company’s stock worth $43,796,000 after buying an additional 2,030 shares during the last quarter. 93.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Regal Beloit Corporation (NYSE:RBC) opened at 79.10 on Tuesday. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50. The firm has a market capitalization of $3.53 billion, a P/E ratio of 17.46 and a beta of 1.52. The company has a 50 day moving average of $82.92 and a 200-day moving average of $78.50.
Regal Beloit Corporation (NYSE:RBC) last announced its earnings results on Monday, August 7th. The industrial products company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.01. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The business had revenue of $869.20 million for the quarter, compared to analysts’ expectations of $854.66 million. During the same period in the prior year, the business posted $1.14 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Analysts predict that Regal Beloit Corporation will post $4.87 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is presently 22.96%.
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A number of research firms have issued reports on RBC. BidaskClub downgraded shares of Regal Beloit Corporation from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research downgraded shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Stifel Nicolaus restated a “hold” rating and set a $85.00 target price on shares of Regal Beloit Corporation in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “hold” rating and set a $80.00 target price on shares of Regal Beloit Corporation in a research report on Friday, July 14th. Finally, Wolfe Research began coverage on shares of Regal Beloit Corporation in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Regal Beloit Corporation presently has an average rating of “Hold” and a consensus price target of $83.00.
In related news, Director Henry W. Knueppel sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $82.00, for a total value of $820,000.00. Following the sale, the director now directly owns 3,726 shares in the company, valued at $305,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry W. Knueppel sold 3,663 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $80.00, for a total value of $293,040.00. The disclosure for this sale can be found here. Insiders sold 33,663 shares of company stock worth $2,813,040 over the last quarter. 2.20% of the stock is currently owned by company insiders.
Regal Beloit Corporation Company Profile
Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.
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