Rexnord Corp (RXN) Shares Bought by Robecosam AG

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Robecosam AG lifted its position in Rexnord Corp (NYSE:RXN) by 117.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 832,367 shares of the industrial products company’s stock after buying an additional 450,429 shares during the period. Robecosam AG’s holdings in Rexnord were worth $25,787,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. grew its position in Rexnord by 29.4% in the second quarter. Baird Financial Group Inc. now owns 108,120 shares of the industrial products company’s stock worth $3,142,000 after acquiring an additional 24,589 shares in the last quarter. NJ State Employees Deferred Compensation Plan grew its position in Rexnord by 42.9% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the industrial products company’s stock worth $581,000 after acquiring an additional 6,000 shares in the last quarter. California Public Employees Retirement System grew its position in Rexnord by 17.3% in the second quarter. California Public Employees Retirement System now owns 264,873 shares of the industrial products company’s stock worth $7,697,000 after acquiring an additional 38,990 shares in the last quarter. Wells Fargo & Company MN grew its position in Rexnord by 5.6% in the second quarter. Wells Fargo & Company MN now owns 2,172,269 shares of the industrial products company’s stock worth $63,126,000 after acquiring an additional 116,164 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. purchased a new position in Rexnord in the second quarter worth $750,000.

NYSE RXN opened at $26.51 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 2.40 and a debt-to-equity ratio of 1.13. Rexnord Corp has a 12-month low of $22.89 and a 12-month high of $32.11. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 0.87 and a beta of 1.50.

Rexnord (NYSE:RXN) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. Rexnord had a net margin of 2.34% and a return on equity of 14.99%. The business had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.66 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. Sell-side analysts predict that Rexnord Corp will post 1.7 earnings per share for the current fiscal year.

Several brokerages recently issued reports on RXN. TheStreet lowered shares of Rexnord from a “b” rating to a “c+” rating in a research report on Thursday, October 25th. ValuEngine lowered shares of Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Oppenheimer upped their target price on shares of Rexnord from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Goldman Sachs Group began coverage on shares of Rexnord in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $31.00 target price for the company. Finally, Bank of America upped their target price on shares of Rexnord from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $32.71.

Rexnord Profile

Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.

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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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