New York State Common Retirement Fund raised its position in Rexnord Corp (NYSE:RXN) by 17.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,785 shares of the industrial products company’s stock after purchasing an additional 34,302 shares during the period. New York State Common Retirement Fund owned about 0.22% of Rexnord worth $5,763,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new position in Rexnord in the second quarter valued at approximately $312,466,000. BlackRock Inc. grew its position in Rexnord by 14.4% in the second quarter. BlackRock Inc. now owns 7,026,845 shares of the industrial products company’s stock valued at $163,374,000 after acquiring an additional 883,165 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Rexnord by 42.5% in 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 acquiring an additional 604,555 shares in the last quarter. Balyasny Asset Management LLC acquired a new stake in Rexnord in the second quarter valued at approximately $13,292,000. Finally, State Street Corp grew its position in Rexnord by 25.8% in the second quarter. State Street Corp now owns 1,942,018 shares of the industrial products company’s stock valued at $45,151,000 after acquiring an additional 397,761 shares in the last quarter.
Shares of Rexnord Corp (NYSE RXN) opened at $25.78 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.08 and a quick ratio of 2.23. Rexnord Corp has a 1 year low of $19.32 and a 1 year high of $26.51. The stock has a market cap of $2,719.72, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 2.09 and a beta of 1.65.
RXN has been the subject of several recent research reports. TheStreet downgraded shares of Rexnord from a “b-” rating to a “c+” rating in a research report on Wednesday, November 15th. Zacks Investment Research raised shares of Rexnord from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Rexnord in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.00.
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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