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Would You Consider Investing in Regal Rexnord (RRX)?

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ClearBridge Investments, an investment management firm, published its “Sustainability Leaders Strategy” first quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Sustainability Leaders Strategy underperformed its Russell 3000 Index benchmark during the first quarter. On an absolute basis, the Strategy had gains in one of 10 sectors in which it was invested (out of 11 sectors total) – the utilities sector. The main detractors were the information technology (IT), consumer discretionary and industrials sectors. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, ClearBridge Investments Sustainability Leaders Strategy mentioned Regal Rexnord Corporation (NYSE:RRX) and explained its insights for the company. Founded in 1955, Regal Rexnord Corporation (NYSE:RRX) is a Beloit, Wisconsin-based electric motors manufacturer with an $8.5 billion market capitalization. Regal Rexnord Corporation (NYSE:RRX)  delivered a -25.57% return since the beginning of the year, while its 12-month returns are down by -14.38%. The stock closed at $126.66 per share on May 06, 2022.

Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about Regal Rexnord Corporation (NYSE:RRX) in its Q1 2022 investor letter:

“The Strategy has long been focused on energy efficiency as a means of boosting bottom lines and lowering global carbon emissions, with names such as Regal Rexnord (NYSE:RRX), which helps customers achieve their energy efficiency objectives with engineered couplings that are critical components in wind farm turbines, integrated compressors that make HVAC systems more energy efficient, and dry running conveyor solutions that reduce water and chemical usage.”

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Our calculations show that Regal Rexnord Corporation (NYSE:RRX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Regal Rexnord Corporation (NYSE:RRX) was in 36 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 30 funds in the previous quarter. Regal Rexnord Corporation (NYSE:RRX) delivered a -18.81% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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