Proficio Capital Partners LLC Takes $6.07 Million Position in Regal Rexnord Co. (NYSE:RRX)

Proficio Capital Partners LLC purchased a new stake in shares of Regal Rexnord Co. (NYSE:RRX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 39,122 shares of the company's stock, valued at approximately $6,069,000. Proficio Capital Partners LLC owned approximately 0.06% of Regal Rexnord as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of RRX. Tobam acquired a new stake in shares of Regal Rexnord during the 4th quarter valued at $45,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Regal Rexnord by 30.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the company's stock valued at $71,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC increased its stake in Regal Rexnord by 28.3% in the 4th quarter. GAMMA Investing LLC now owns 1,079 shares of the company's stock worth $167,000 after purchasing an additional 238 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Regal Rexnord during the 3rd quarter worth about $209,000. Finally, First Citizens Bank & Trust Co. acquired a new stake in Regal Rexnord during the 4th quarter worth about $213,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock traded down $1.12 on Friday, reaching $122.47. The stock had a trading volume of 487,551 shares, compared to its average volume of 616,471. Regal Rexnord Co. has a fifty-two week low of $117.18 and a fifty-two week high of $185.28. The business's 50-day moving average price is $147.30 and its two-hundred day moving average price is $159.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 2.26. The stock has a market cap of $8.12 billion, a P/E ratio of 41.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

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Regal Rexnord (NYSE:RRX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts forecast that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, March 31st. Regal Rexnord's payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

RRX has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $191.00 to $213.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of Regal Rexnord in a research report on Thursday, December 12th. They set a "buy" rating and a $215.00 price objective on the stock. Barclays reduced their target price on Regal Rexnord from $190.00 to $176.00 and set an "overweight" rating for the company in a report on Friday, February 14th. StockNews.com lowered shares of Regal Rexnord from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 16th. Finally, Oppenheimer cut their price objective on Regal Rexnord from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $197.75.

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.