Prescott Group Capital Management L.L.C. Takes Position in Regal Rexnord Co. (NYSE:RRX)

Prescott Group Capital Management L.L.C. acquired a new stake in Regal Rexnord Co. (NYSE:RRX – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $600,000.

Several other large investors also recently modified their holdings of the stock. US Bancorp DE acquired a new position in shares of Regal Rexnord in the first quarter valued at about $702,000. Citigroup Inc. acquired a new position in shares of Regal Rexnord in the first quarter valued at about $3,124,000. AlphaCrest Capital Management LLC acquired a new position in shares of Regal Rexnord in the first quarter valued at about $347,000. Great West Life Assurance Co. Can acquired a new position in shares of Regal Rexnord in the first quarter valued at about $5,758,000. Finally, Synovus Financial Corp acquired a new position in shares of Regal Rexnord in the first quarter valued at about $1,608,000. 99.98% of the stock is owned by institutional investors.

Regal Rexnord Trading Up 1.0 %

NYSE RRX traded up $1.33 during trading hours on Friday, reaching $131.86. The company’s stock had a trading volume of 57,144 shares, compared to its average volume of 452,935. The firm has a fifty day simple moving average of $132.00 and a 200-day simple moving average of $134.72. The stock has a market cap of $8.74 billion, a P/E ratio of 24.35, a P/E/G ratio of 1.19 and a beta of 1.06. Regal Rexnord Co. has a 52 week low of $108.28 and a 52 week high of $162.89. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.92 and a quick ratio of 1.69.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.06%. Regal Rexnord’s dividend payout ratio (DPR) is presently 26.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Regal Rexnord from $148.00 to $185.00 in a research note on Sunday, February 5th. Robert W. Baird reduced their price objective on shares of Regal Rexnord from $188.00 to $184.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 28th. StockNews.com began coverage on shares of Regal Rexnord in a research note on Thursday, May 18th. They set a “hold” rating on the stock. KeyCorp increased their price objective on shares of Regal Rexnord from $172.00 to $184.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Finally, Oppenheimer raised their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.00.

Regal Rexnord Company Profile

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Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.