Proficio Capital Partners LLC Acquires New Holdings in Regal Rexnord Co. (NYSE:RRX)

Proficio Capital Partners LLC purchased a new position in Regal Rexnord Co. (NYSE:RRX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 39,122 shares of the company's stock, valued at approximately $6,069,000. Proficio Capital Partners LLC owned 0.06% of Regal Rexnord at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Tobam purchased a new position in Regal Rexnord during the fourth quarter valued at approximately $45,000. Jones Financial Companies Lllp lifted its stake in shares of Regal Rexnord by 90.5% in the 4th quarter. Jones Financial Companies Lllp now owns 322 shares of the company's stock valued at $50,000 after purchasing an additional 153 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Regal Rexnord by 45.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 337 shares of the company's stock valued at $52,000 after purchasing an additional 105 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in 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 in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Regal Rexnord by 335.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 622 shares of the company's stock valued at $97,000 after buying an additional 479 shares during the period. 99.72% of the stock is owned by hedge funds and other institutional investors.

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Regal Rexnord Price Performance

RRX traded up $0.40 during trading on Thursday, reaching $123.71. The company's stock had a trading volume of 486,208 shares, compared to its average volume of 478,581. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 1.37 and a beta of 1.11. The firm has a fifty day simple moving average of $140.64 and a two-hundred day simple moving average of $157.13. Regal Rexnord Co. has a 1 year low of $113.73 and a 1 year high of $185.28. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 EPS 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, analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, March 31st. Regal Rexnord's dividend payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Regal Rexnord from $191.00 to $213.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Oppenheimer cut their price objective 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. Barclays reduced their target price on Regal Rexnord from $176.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Jefferies Financial Group began coverage on shares of Regal Rexnord in a research note on Thursday, December 12th. They issued a "buy" rating and a $215.00 price target on the stock. Finally, Citigroup reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of "Moderate Buy" and a consensus target price of $195.75.

About Regal Rexnord

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.