4,079 Shares of Regal Rexnord Corporation $RRX Purchased by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC purchased a new stake in Regal Rexnord Corporation (NYSE:RRX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,079 shares of the company’s stock, valued at approximately $667,000.

A number of other hedge funds have also modified their holdings of RRX. BlackRock Inc. bought a new position in Regal Rexnord during the 2nd quarter worth approximately $1,477,356,000. Wellington Management Group LLP grew its holdings in Regal Rexnord by 75.8% during the second quarter. Wellington Management Group LLP now owns 2,584,056 shares of the company’s stock valued at $615,496,000 after purchasing an additional 1,113,888 shares during the period. Bank of New York Mellon Corp bought a new stake in Regal Rexnord in the second quarter valued at approximately $449,281,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Regal Rexnord in the second quarter valued at approximately $254,637,000. Finally, Bessemer Group Inc. increased its stake in Regal Rexnord by 4,155.4% in the first quarter. Bessemer Group Inc. now owns 916,054 shares of the company’s stock valued at $171,541,000 after purchasing an additional 894,527 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RRX has been the topic of several analyst reports. Wall Street Zen lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. JPMorgan Chase & Co. decreased their price target on shares of Regal Rexnord from $240.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, October 9th. The Goldman Sachs Group set a $216.00 price target on shares of Regal Rexnord in a report on Wednesday, September 30th. Citigroup lowered their price objective on shares of Regal Rexnord from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regal Rexnord in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.50.

Regal Rexnord Stock Up 1.4%

Shares of NYSE:RRX traded up $2.16 during trading on Monday, hitting $156.17. 299,274 shares of the company’s stock traded hands, compared to its average volume of 1,142,675. Regal Rexnord Corporation has a 52 week low of $127.96 and a 52 week high of $247.80. The company has a current ratio of 2.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 1.23 and a beta of 1.09. The company has a 50-day moving average price of $160.83 and a 200-day moving average price of $191.53.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Wednesday, August 5th. The company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.41. Regal Rexnord had a return on equity of 9.93% and a net margin of 5.35%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business earned $2.48 EPS. Regal Rexnord’s revenue for the quarter was up 4.2% compared to the same quarter last year. Regal Rexnord has set its FY 2026 guidance at 10.350-10.850 EPS. As a group, research analysts forecast that Regal Rexnord Corporation will post 10.64 EPS for the current fiscal year.

Regal Rexnord Company Profile

Regal Rexnord Corporation is an industrial manufacturing company that develops and produces electric motors, power transmission components, motion-control systems and other equipment used in industrial and commercial applications. Its products include motors, gearboxes, bearings, couplings, belts, chains, drives, clutches, brakes and related controls, as well as air-moving and power-management solutions.

The company serves customers across industries such as automation, material handling, food and beverage, renewable energy, heating and ventilation, agriculture, and general industrial production.