Do You Think Regal Rexnord Corporation (RRX) is an Attractive Investment?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Regal Rexnord Corporation (NYSE:RRX) in its Q3 2022 investor letter. Headquartered in Beloit, Wisconsin, Regal Rexnord Corporation (NYSE:RRX) manufactures motors, bearings, gearing, conveying, blowers, electric components, and couplings globally. On December 19, 2022, Regal Rexnord Corporation (NYSE:RRX) stock closed at $114.12 per share. One-month return of Regal Rexnord Corporation (NYSE:RRX) was -12.28%, and its shares lost 29.31% of their value over the last 52 weeks. Regal Rexnord Corporation (NYSE:RRX) has a market capitalization of $7.549 billion.

TimesSquare Capital made the following comment about Regal Rexnord Corporation (NYSE:RRX) in its Q3 2022 investor letter:

“Back to the positives, there was Regal Rexnord Corporation (NYSE:RRX) that specializes in motion control systems, climate solutions, and similar mechanical components for a variety of end markets. Regal reported better-than-expected revenues and earnings, plus management raised its guidance for the remainder of 2022. Though order volumes declined, that change was still better than feared and all its business lines showed organic growth from better prices. That produced a 24% lift for Regal’s shares.”

Regal Rexnord Corporation (NYSE:RRX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Regal Rexnord Corporation (NYSE:RRX) at the end of the third quarter, which was 38 in the previous quarter.

We discussed Regal Rexnord Corporation (NYSE:RRX) in another article and shared ClearBridge Investments’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.