Parametrica Management Ltd acquired a new position in Rexnord Corporation (NYSE:RXN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,346 shares of the industrial products company’s stock, valued at approximately $212,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC purchased a new position in Rexnord Corporation during the second quarter valued at approximately $312,466,000. BlackRock Inc. lifted its holdings in Rexnord Corporation by 11,563.1% during the first quarter. BlackRock Inc. now owns 6,143,680 shares of the industrial products company’s stock valued at $141,795,000 after purchasing an additional 6,091,004 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Rexnord Corporation by 42.5% during the second quarter. Goldman Sachs Group Inc. now owns 2,028,346 shares of the industrial products company’s stock valued at $47,159,000 after purchasing an additional 604,555 shares in the last quarter. Balyasny Asset Management LLC purchased a new position in Rexnord Corporation during the second quarter valued at approximately $13,292,000. Finally, Vanguard Group Inc. lifted its holdings in Rexnord Corporation by 6.3% during the first quarter. Vanguard Group Inc. now owns 8,282,119 shares of the industrial products company’s stock valued at $191,151,000 after purchasing an additional 487,513 shares in the last quarter.
Several equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Rexnord Corporation in a report on Thursday, September 28th. Janney Montgomery Scott assumed coverage on shares of Rexnord Corporation in a report on Friday, July 21st. They set a “buy” rating and a $27.00 price target on the stock. Robert W. Baird set a $27.00 price target on shares of Rexnord Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, BidaskClub downgraded shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Rexnord Corporation has an average rating of “Hold” and a consensus target price of $26.00.
Rexnord Corporation (NYSE RXN) opened at $25.32 on Friday. Rexnord Corporation has a 1-year low of $17.00 and a 1-year high of $26.24. The company has a current ratio of 3.08, a quick ratio of 2.17 and a debt-to-equity ratio of 1.37. The firm has a market cap of $2,631.38, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.01 and a beta of 1.65.
Rexnord Corporation (NYSE:RXN) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Rexnord Corporation had a net margin of 4.45% and a return on equity of 12.03%. The firm had revenue of $510.80 million for the quarter, compared to the consensus estimate of $505.75 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. equities research analysts forecast that Rexnord Corporation will post 1.25 EPS for the current fiscal year.
In other news, insider Michael Troutman sold 22,914 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $24.15, for a total value of $553,373.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.50% of the stock is currently owned by insiders.
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Rexnord Corporation Company Profile
Rexnord Corporation is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a range of engineered mechanical components used within systems.
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