Kiwi Wealth Investments Limited Partnership Grows Holdings in Regal Beloit Corporation (RBC)
Kiwi Wealth Investments Limited Partnership grew its position in shares of Regal Beloit Corporation (NYSE:RBC) by 36.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,600 shares of the industrial products company’s stock after purchasing an additional 7,364 shares during the period. Kiwi Wealth Investments Limited Partnership owned approximately 0.06% of Regal Beloit Corporation worth $2,180,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Synovus Financial Corp lifted its stake in Regal Beloit Corporation by 4.4% during the second 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 acquired a new position in Regal Beloit Corporation during the second quarter worth $224,000. Fox Run Management L.L.C. acquired a new position in Regal Beloit Corporation during the second quarter worth $236,000. M&T Bank Corp acquired a new position in Regal Beloit Corporation during the second quarter worth $237,000. Finally, Bridgewater Associates LP acquired a new position in Regal Beloit Corporation during the second quarter worth $248,000. Institutional investors own 93.01% of the company’s stock.
Shares of Regal Beloit Corporation (NYSE RBC) traded down $1.70 during midday trading on Thursday, hitting $73.80. The stock had a trading volume of 366,900 shares, compared to its average volume of 249,609. The firm has a market capitalization of $3,344.95, a PE ratio of 15.83, a P/E/G ratio of 1.41 and a beta of 1.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.22 and a current ratio of 2.22. Regal Beloit Corporation has a twelve month low of $68.00 and a twelve month high of $87.50.
Regal Beloit Corporation (NYSE:RBC) last posted its earnings results on Monday, November 6th. The industrial products company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.01). The business had revenue of $857.00 million during the quarter, compared to analysts’ expectations of $837.19 million. Regal Beloit Corporation had a net margin of 6.28% and a return on equity of 9.76%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. sell-side analysts expect that Regal Beloit Corporation will post 4.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.41%. The ex-dividend date is Thursday, December 28th. Regal Beloit Corporation’s dividend payout ratio (DPR) is presently 22.61%.
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A number of research analysts have commented on RBC shares. Stifel Nicolaus restated a “hold” rating and set a $85.00 price target on shares of Regal Beloit Corporation in a research note on Tuesday, August 22nd. BidaskClub cut Regal Beloit Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Robert W. Baird restated a “buy” rating and set a $88.00 price target on shares of Regal Beloit Corporation in a research note on Wednesday, October 4th. ValuEngine cut Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Regal Beloit Corporation in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Regal Beloit Corporation currently has an average rating of “Hold” and a consensus price target of $86.14.
Regal Beloit Corporation 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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