Proficio Capital Partners LLC Takes Position in Regal Rexnord Co. (NYSE:RRX)

Proficio Capital Partners LLC purchased a new stake in shares of Regal Rexnord Co. (NYSE:RRX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 39,122 shares of the company’s stock, valued at approximately $6,069,000. Proficio Capital Partners LLC owned about 0.06% of Regal Rexnord at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RRX. Atria Investments Inc purchased a new position in shares of Regal Rexnord during the 3rd quarter valued at $257,000. GSA Capital Partners LLP purchased a new position in shares of Regal Rexnord during the 3rd quarter valued at $229,000. Oppenheimer Asset Management Inc. lifted its position in shares of Regal Rexnord by 21.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,934 shares of the company’s stock valued at $321,000 after buying an additional 338 shares during the last quarter. KBC Group NV lifted its position in shares of Regal Rexnord by 12.3% during the 3rd quarter. KBC Group NV now owns 1,795 shares of the company’s stock valued at $298,000 after buying an additional 197 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Regal Rexnord during the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group raised their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com downgraded Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Oppenheimer cut their target price on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Jefferies Financial Group assumed coverage on Regal Rexnord in a research note on Thursday, December 12th. They issued a “buy” rating and a $215.00 target price for the company. Finally, Citigroup cut their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $195.75.

Regal Rexnord Stock Performance

Shares of RRX opened at $116.44 on Monday. The company has a market cap of $7.72 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average price of $142.83 and a 200-day moving average price of $158.04. Regal Rexnord Co. has a 12-month low of $113.73 and a 12-month high of $185.28.

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

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a $0.35 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.20%. Regal Rexnord’s payout ratio is 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.