Meadow Creek Investment Management LLC boosted its position in Regal Beloit Corp (NYSE:RBC) by 33.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,036 shares of the industrial products company’s stock after purchasing an additional 9,072 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Regal Beloit were worth $2,761,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Regal Beloit during the 4th quarter worth about $100,000. Tower Research Capital LLC TRC raised its position in shares of Regal Beloit by 2,200.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the industrial products company’s stock worth $176,000 after buying an additional 2,200 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Regal Beloit during the 4th quarter worth about $199,000. Pinebridge Investments L.P. bought a new stake in shares of Regal Beloit during the 3rd quarter worth about $204,000. Finally, Regentatlantic Capital LLC bought a new stake in shares of Regal Beloit during the 4th quarter worth about $241,000. Hedge funds and other institutional investors own 96.70% of the company’s stock.
A number of analysts have commented on RBC shares. Zacks Investment Research upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Tuesday, January 2nd. ValuEngine upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Royal Bank of Canada restated a “buy” rating and set a $90.00 price target on shares of Regal Beloit in a research report on Tuesday, November 28th. Seaport Global Securities upgraded shares of Regal Beloit from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $82.00 to $88.00 in a research report on Wednesday, February 7th. Finally, Barclays started coverage on shares of Regal Beloit in a research report on Thursday, February 15th. They set an “equal weight” rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Regal Beloit has a consensus rating of “Hold” and a consensus target price of $86.08.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The company had revenue of $820.70 million for the quarter, compared to analysts’ expectations of $794.65 million. Regal Beloit had a net margin of 6.34% and a return on equity of 9.64%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. research analysts expect that Regal Beloit Corp will post 5.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.39%. Regal Beloit’s dividend payout ratio is currently 21.94%.
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Regal Beloit Company Profile
Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.
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