Regal Beloit Corp (RBC) Stake Lifted by Victory Capital Management Inc.

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Victory Capital Management Inc. grew its holdings in Regal Beloit Corp (NYSE:RBC) by 0.8% during the second quarter, HoldingsChannel.com reports. The firm owned 194,760 shares of the industrial products company’s stock after acquiring an additional 1,590 shares during the quarter. Victory Capital Management Inc.’s holdings in Regal Beloit were worth $15,931,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. World Asset Management Inc acquired a new position in shares of Regal Beloit in the 2nd quarter valued at about $205,000. Verity Asset Management Inc. acquired a new position in shares of Regal Beloit in the 1st quarter valued at about $209,000. Regentatlantic Capital LLC lifted its stake in shares of Regal Beloit by 22.9% in the 2nd quarter. Regentatlantic Capital LLC now owns 3,705 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 690 shares during the period. Canandaigua National Bank & Trust Co. acquired a new position in shares of Regal Beloit in the 1st quarter valued at about $280,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of Regal Beloit by 38.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,850 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 1,350 shares during the period. 93.83% of the stock is currently owned by institutional investors.

In related news, Director Christopher L. Doerr sold 6,085 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $81.43, for a total transaction of $495,501.55. Following the transaction, the director now directly owns 17,900 shares of the company’s stock, valued at approximately $1,457,597. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by corporate insiders.

RBC stock opened at $82.65 on Friday. Regal Beloit Corp has a fifty-two week low of $67.84 and a fifty-two week high of $86.65. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 2.24. The company has a market cap of $3.50 billion, a P/E ratio of 16.97, a PEG ratio of 1.36 and a beta of 1.51.

Regal Beloit (NYSE:RBC) last posted its quarterly earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.01. Regal Beloit had a return on equity of 10.30% and a net margin of 6.77%. The business had revenue of $959.70 million for the quarter, compared to the consensus estimate of $953.65 million. During the same period in the prior year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. equities research analysts forecast that Regal Beloit Corp will post 5.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 27th. Regal Beloit’s dividend payout ratio (DPR) is currently 23.00%.

RBC has been the topic of a number of recent analyst reports. Zacks Investment Research raised Regal Beloit from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Friday, May 11th. Wolfe Research initiated coverage on Regal Beloit in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $97.00 price objective on the stock. Finally, BMO Capital Markets boosted their price objective on Regal Beloit from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $88.60.

Regal Beloit Profile

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

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Institutional Ownership by Quarter for Regal Beloit (NYSE:RBC)

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