Genesee Valley Trust Co. boosted its stake in shares of Regal Beloit Corp. (NYSE:RBC) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,733 shares of the company’s stock after buying an additional 107 shares during the period. Genesee Valley Trust Co.’s holdings in Regal Beloit Corp. were worth $206,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Aperio Group LLC increased its stake in Regal Beloit Corp. by 32.6% in the first quarter. Aperio Group LLC now owns 15,355 shares of the company’s stock valued at $969,000 after buying an additional 3,776 shares in the last quarter. CIBC World Markets Inc. boosted its position in shares of Regal Beloit Corp. by 2.7% in the first quarter. CIBC World Markets Inc. now owns 8,145 shares of the company’s stock valued at $514,000 after buying an additional 217 shares during the last quarter. Pacad Investment Ltd. boosted its position in shares of Regal Beloit Corp. by 13.3% in the first quarter. Pacad Investment Ltd. now owns 9,395 shares of the company’s stock valued at $593,000 after buying an additional 1,100 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Regal Beloit Corp. by 1.5% in the first quarter. TIAA CREF Investment Management LLC now owns 133,083 shares of the company’s stock valued at $8,396,000 after buying an additional 2,005 shares during the last quarter. Finally, Teachers Advisors Inc. boosted its position in shares of Regal Beloit Corp. by 3.7% in the first quarter. Teachers Advisors Inc. now owns 37,650 shares of the company’s stock valued at $2,375,000 after buying an additional 1,348 shares during the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.
Shares of Regal Beloit Corp. (NYSE:RBC) traded down 1.27% on Tuesday, hitting $57.44. The stock had a trading volume of 182,645 shares. Regal Beloit Corp. has a 12 month low of $47.77 and a 12 month high of $68.45. The stock has a market cap of $2.57 billion, a PE ratio of 18.13 and a beta of 1.69. The stock has a 50 day moving average of $60.85 and a 200-day moving average of $60.25.
Regal Beloit Corp. (NYSE:RBC) last announced its earnings results on Monday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The firm earned $838.60 million during the quarter, compared to the consensus estimate of $857.88 million. During the same period in the prior year, the company posted $1.53 EPS. The firm’s revenue was down 11.0% on a year-over-year basis. Equities research analysts anticipate that Regal Beloit Corp. will post $4.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, September 28th. Regal Beloit Corp.’s dividend payout ratio (DPR) is presently 30.28%.
RBC has been the topic of several analyst reports. BMO Capital Markets cut Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and cut their target price for the company from $76.00 to $66.00 in a research report on Tuesday, August 2nd. Seaport Global Securities cut Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and cut their target price for the company from $68.00 to $64.00 in a research report on Tuesday. Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. TheStreet cut Regal Beloit Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a research report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $63.50.
In related news, VP Terry R. Colvin sold 1,615 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $62.47, for a total transaction of $100,889.05. Following the completion of the transaction, the vice president now owns 21,146 shares of the company’s stock, valued at approximately $1,320,990.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.
Regal Beloit Corp. Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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