William Blair Investment Management LLC Makes New $57.81 Million Investment in Regal Rexnord Corporation $RRX

William Blair Investment Management LLC acquired a new stake in shares of Regal Rexnord Corporation (NYSE:RRX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 403,004 shares of the company’s stock, valued at approximately $57,807,000. William Blair Investment Management LLC owned approximately 0.61% of Regal Rexnord as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RRX. 1620 Investment Advisors Inc. raised its position in Regal Rexnord by 8.6% during the third quarter. 1620 Investment Advisors Inc. now owns 944 shares of the company’s stock valued at $135,000 after purchasing an additional 75 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Regal Rexnord by 35.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 299 shares of the company’s stock valued at $43,000 after purchasing an additional 78 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Regal Rexnord by 8.9% during the 3rd quarter. UMB Bank n.a. now owns 963 shares of the company’s stock valued at $138,000 after buying an additional 79 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Regal Rexnord by 42.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 265 shares of the company’s stock worth $38,000 after buying an additional 79 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Regal Rexnord by 85.7% in the second quarter. Allworth Financial LP now owns 195 shares of the company’s stock worth $28,000 after buying an additional 90 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on RRX shares. The Goldman Sachs Group lifted their price target on shares of Regal Rexnord from $170.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. KeyCorp lifted their target price on shares of Regal Rexnord from $200.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Barclays boosted their price target on shares of Regal Rexnord from $165.00 to $237.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Zacks Research raised Regal Rexnord from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Jefferies Financial Group downgraded Regal Rexnord from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $170.00 to $160.00 in a report on Wednesday, December 10th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $227.50.

Insider Buying and Selling at Regal Rexnord

In related news, EVP Cheryl Lewis sold 2,262 shares of Regal Rexnord stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $215.73, for a total transaction of $487,981.26. Following the completion of the transaction, the executive vice president directly owned 13,219 shares of the company’s stock, valued at $2,851,734.87. This trade represents a 14.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Robert Rehard sold 7,704 shares of Regal Rexnord stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $216.72, for a total transaction of $1,669,610.88. Following the transaction, the chief financial officer owned 34,154 shares of the company’s stock, valued at $7,401,854.88. The trade was a 18.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,451 shares of company stock valued at $11,386,689 in the last quarter. 0.82% of the stock is owned by insiders.

Regal Rexnord Stock Up 0.0%

Shares of NYSE RRX opened at $220.86 on Monday. The firm has a fifty day simple moving average of $175.47 and a two-hundred day simple moving average of $154.72. Regal Rexnord Corporation has a 12 month low of $90.56 and a 12 month high of $229.30. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $14.69 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Regal Rexnord had a net margin of 4.71% and a return on equity of 9.60%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the company earned $2.34 earnings per share. Regal Rexnord’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts expect that Regal Rexnord Corporation will post 9.95 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, March 31st. Regal Rexnord’s payout ratio is 33.33%.

Regal Rexnord Company Profile

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.