Regal Rexnord Co. (NYSE:RRX) Shares Acquired by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC increased its stake in shares of Regal Rexnord Co. (NYSE:RRX) by 35.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 884,095 shares of the company’s stock after purchasing an additional 232,509 shares during the period. Regal Rexnord makes up approximately 2.0% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. TimesSquare Capital Management LLC’s holdings in Regal Rexnord were worth $137,150,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. CIBC Asset Management Inc lifted its holdings in Regal Rexnord by 3.2% during the third quarter. CIBC Asset Management Inc now owns 1,960 shares of the company’s stock worth $325,000 after acquiring an additional 61 shares in the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Regal Rexnord by 17.4% during the third quarter. 1620 Investment Advisors Inc. now owns 452 shares of the company’s stock worth $75,000 after buying an additional 67 shares during the period. iA Global Asset Management Inc. boosted its position in shares of Regal Rexnord by 2.7% during the third quarter. iA Global Asset Management Inc. now owns 2,626 shares of the company’s stock worth $436,000 after buying an additional 68 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Regal Rexnord by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,616 shares of the company’s stock worth $601,000 after buying an additional 95 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Regal Rexnord by 30.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company’s stock worth $71,000 after buying an additional 100 shares during the period. 99.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RRX. The Goldman Sachs Group upped their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird reduced their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup reduced their price target on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Barclays reduced their price target on Regal Rexnord from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Oppenheimer reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.75.

Regal Rexnord Stock Performance

RRX opened at $136.64 on Wednesday. Regal Rexnord Co. has a 12-month low of $130.94 and a 12-month high of $185.28. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 46.32, a PEG ratio of 1.38 and a beta of 1.03. The business has a 50 day moving average of $155.58 and a 200-day moving average of $162.13. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

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

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.02%. Regal Rexnord’s dividend payout ratio (DPR) is currently 47.46%.

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.