TimesSquare Capital Management LLC Purchases 130,415 Shares of Regal Rexnord Co. (NYSE:RRX)

TimesSquare Capital Management LLC raised its position in Regal Rexnord Co. (NYSE:RRX) by 85.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 283,705 shares of the company’s stock after acquiring an additional 130,415 shares during the period. TimesSquare Capital Management LLC’s holdings in Regal Rexnord were worth $41,994,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC increased its position in shares of Regal Rexnord by 652.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Regal Rexnord during the 4th quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Regal Rexnord during the 4th quarter worth approximately $100,000. Global Retirement Partners LLC boosted its holdings in shares of Regal Rexnord by 63.9% in the 4th quarter. Global Retirement Partners LLC now owns 808 shares of the company’s stock valued at $109,000 after buying an additional 315 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Regal Rexnord by 48.5% in the fourth quarter. CWM LLC now owns 738 shares of the company’s stock valued at $109,000 after buying an additional 241 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RRX shares. Barclays dropped their price target on shares of Regal Rexnord from $203.00 to $199.00 and set an “overweight” rating on the stock in a research report on Wednesday. KeyCorp upped their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Oppenheimer lifted their price target on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Finally, Robert W. Baird upped their price objective on Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.60.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock traded up $3.63 on Thursday, hitting $161.00. The stock had a trading volume of 327,245 shares, compared to its average volume of 463,133. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of -185.78, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The business’s 50 day moving average is $169.44 and its two-hundred day moving average is $146.68. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.22 EPS. Analysts forecast that Regal Rexnord Co. will post 10.05 EPS for the current year.

Regal Rexnord Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s dividend payout ratio is currently -160.92%.

Insiders Place Their Bets

In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the transaction, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares in the company, valued at approximately $2,451,536.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas E. Valentyn sold 647 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,570 shares of company stock worth $892,301 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Company 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.