Regal Beloit Corporation (RBC) Holdings Held by WFG Advisors LP
WFG Advisors LP continued to hold its stake in Regal Beloit Corporation (NYSE:RBC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,242 shares of the industrial products company’s stock at the close of the 2nd quarter. WFG Advisors LP’s holdings in Regal Beloit Corporation were worth $101,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of RBC. Envestnet Asset Management Inc. grew its position in Regal Beloit Corporation by 5.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,514 shares of the industrial products company’s stock worth $191,000 after purchasing an additional 134 shares in the last quarter. Synovus Financial Corp grew its position in Regal Beloit Corporation by 4.4% in the 2nd quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 110 shares in the last quarter. Airain ltd bought a new stake in Regal Beloit Corporation in the 2nd quarter worth about $224,000. Fox Run Management L.L.C. bought a new stake in Regal Beloit Corporation in the 2nd quarter worth about $236,000. Finally, M&T Bank Corp bought a new stake in Regal Beloit Corporation in the 2nd quarter worth about $237,000. 92.13% of the stock is owned by institutional investors and hedge funds.
Regal Beloit Corporation (NYSE:RBC) opened at 79.90 on Friday. The company has a market capitalization of $3.56 billion, a P/E ratio of 17.64 and a beta of 1.53. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50. The stock’s 50 day moving average is $78.30 and its 200-day moving average is $79.48.
Regal Beloit Corporation (NYSE:RBC) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Regal Beloit Corporation had a net margin of 6.29% and a return on equity of 9.88%. The firm had revenue of $869.20 million during the quarter, compared to analyst estimates of $854.66 million. During the same period in the previous year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts predict that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $0.26 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.30%. Regal Beloit Corporation’s dividend payout ratio is presently 22.96%.
A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of Regal Beloit Corporation from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub downgraded shares of Regal Beloit Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Stifel Nicolaus reissued a “hold” rating and set a $85.00 target price on shares of Regal Beloit Corporation in a research report on Tuesday, August 22nd. Finally, Robert W. Baird reissued a “buy” rating and set a $88.00 target price on shares of Regal Beloit Corporation in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $86.33.
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About Regal Beloit Corporation
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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