Buckley Wealth Management LLC, a reputable investment firm, recently acquired a new stake in Regal Rexnord Co. (NYSE: RRX) during the second quarter of this year. This information was disclosed in the company’s latest filing with the Securities and Exchange Commission. Buckley Wealth Management purchased 1,553 shares of Regal Rexnord’s stock at an approximate value of $239,000.
Regal Rexnord, a prominent player in the industrial manufacturing industry, announced its earnings results on Monday, July 31st. The company exceeded analysts’ expectations by reporting an earnings per share (EPS) of $2.56 for the quarter, beating consensus estimates by $0.12. This remarkable performance reflects a solid financial position for Regal Rexnord.
Furthermore, Regal Rexnord achieved a return on equity (ROE) of 10.53% and net margin of 4.45%. These figures highlight the company’s ability to effectively manage its resources while ensuring profitability.
During the same period last year, Regal Rexnord earned $2.76 per share, indicating a slight decline from the current quarter’s performance. However, it is important to note that despite this decrease in earnings compared to last year, Regal Rexnord experienced significant growth in its quarterly revenue.
Revenues for the quarter reached $1.77 billion, an impressive increase of 31.1% compared to the same period last year. This exceeded market consensus estimates and demonstrates Regal Rexnord’s continued success within its industry.
Looking ahead, equities research analysts remain optimistic about Regal Rexnord’s future performance. They predict that the company will post an EPS of 10.41 for the current fiscal year.
Overall, Buckley Wealth Management’s decision to invest in Regal Rexnord highlights their confidence in the company’s potential for growth and profitability. With strong financial results and positive market projections, Regal Rexnord stands as a promising investment opportunity in the industrial manufacturing sector. As always, investors should conduct thorough research and analysis before making any investment decisions.
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Institutional Investors and Analysts Show Confidence in Regal Rexnord’s Promising Future
Regal Rexnord, a well-known company in the market, has recently seen significant activity from institutional investors and hedge funds. Fiera Capital Corp, for instance, has increased its position in shares of Regal Rexnord by 3.2% during the first quarter. With an additional purchase of 9,461 shares, Fiera Capital Corp now owns a total of 307,529 shares worth $43,279,000.
Jennison Associates LLC also raised its holdings in Regal Rexnord by 2.2% during the first quarter. It acquired an additional 2,829 shares, bringing its total to 134,024 shares valued at $18,861,000.
FMR LLC followed suit by increasing its position in Regal Rexnord by 15.1% during the same period. The company now owns an impressive 8,674,826 shares valued at $1,220,808,000 after purchasing an additional 1,140,696 shares.
Additionally contributing to this wave of investment is XTX Topco Ltd., which purchased a new stake in Regal Rexnord worth $666,000 during the first quarter. Tredje AP fonden also acquired a new position in the company during the fourth quarter amounting to $873,000. Collectively speaking though , hedge funds and other institutional investors own about 96.67% of Regal Rexnord’s stock.
Equities research analysts have been analyzing Regal Rexnord as well and have had interesting opinions on the matter. Robert W. Baird recently set a target price of $211.00 for the stock while giving it an “outperform” rating. Oppenheimer also raised their price target from $190 to $200 with an “outperform” rating for Regal Rexnord.
These analyses were further supported by StockNews.com which assigned a “hold” rating to Regal Rexnord’s stock. As of now, two research analysts have a hold rating on the stock while three have given it a buy rating. Bloomberg.com reported an average rating of “Moderate Buy” for the company along with an average target price of $195.00.
In recent news about Regal Rexnord, VP John Avampato sold 8,427 shares in August at an average price of $151.83. The total transaction amounted to $1,279,471.41. After this transaction, Avampato now directly owns 12,953 shares in the company with a value of approximately $1,966,653.99.
Regal Rexnord’s shares on NYSE opened at $157.00 and the company boasts a market capitalization of $10.41 billion. With a price-to-earnings ratio of 42.20 and a PEG ratio of 1.45, Regal Rexnord is exhibiting strong performance indicators in the market. Its beta stands at 1.08.
Over the past year, Regal Rexnord has experienced both highs and lows with its fifty-two week range oscillating between $111.84 and $166.00 . Currently trading slightly above its fifty-day simple moving average of $155.66 and well above its two-hundred-day simple moving average of $145.04 , it appears that investors are showing confidence in this stock.
Furthermore ,the firm has demonstrated solid financial health through its quick ratio of 1.37 and current ratio of 2..52 . Additionally ,it exhibits reasonable leverage levels owing to its debt-to-equity ratio standing at 1:03 .
Overall , Regal Rexnord has been receiving positive attention from institutional investors as well as research analysts alike . This reflects the company’s strong position in the industry and its promising trajectory moving forward.
