CANADA LIFE ASSURANCE Co Acquires 4,342 Shares of Regal Rexnord Co. (NYSE:RRX)

CANADA LIFE ASSURANCE Co raised its holdings in Regal Rexnord Co. (NYSE:RRX) by 8.0% in the first quarter, Holdings Channel reports. The firm owned 58,336 shares of the company’s stock after purchasing an additional 4,342 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Regal Rexnord were worth $10,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Xponance Inc. grew its position in Regal Rexnord by 1.2% during the fourth quarter. Xponance Inc. now owns 8,003 shares of the company’s stock valued at $1,185,000 after buying an additional 91 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Regal Rexnord by 2.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock worth $686,000 after purchasing an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Regal Rexnord by 3.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock worth $591,000 after purchasing an additional 102 shares during the last quarter. Mesirow Institutional Investment Management Inc. raised its holdings in shares of Regal Rexnord by 0.9% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 18,451 shares of the company’s stock worth $2,731,000 after purchasing an additional 162 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in Regal Rexnord by 5.1% in the first quarter. Commonwealth Equity Services LLC now owns 3,400 shares of the company’s stock valued at $612,000 after purchasing an additional 166 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird lifted their price objective on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Raymond James initiated coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Barclays cut their price target on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Finally, KeyCorp reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $188.00.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $151.00 on Friday. Regal Rexnord Co. has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The firm’s fifty day moving average price is $144.21 and its 200-day moving average price is $154.39. The stock has a market cap of $10.04 billion, a P/E ratio of -314.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.56 and a current ratio of 2.62.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the business earned $2.22 earnings per share. On average, equities research analysts expect that Regal Rexnord Co. will post 9.73 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio is presently -291.67%.

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.