Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Rexnord Corp (NYSE:RXN) by 48.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 268,930 shares of the industrial products company’s stock after acquiring an additional 87,306 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rexnord were worth $6,998,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Parametrica Management Ltd acquired a new position in shares of Rexnord in the third quarter worth approximately $212,000. Ameritas Investment Partners Inc. lifted its stake in shares of Rexnord by 27.7% in the second quarter. Ameritas Investment Partners Inc. now owns 9,142 shares of the industrial products company’s stock worth $213,000 after acquiring an additional 1,981 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Rexnord in the third quarter worth approximately $219,000. Prudential Financial Inc. acquired a new position in shares of Rexnord in the second quarter worth approximately $230,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Rexnord in the third quarter worth approximately $288,000.
A number of equities analysts recently commented on RXN shares. Zacks Investment Research lowered Rexnord from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. TheStreet lowered Rexnord from a “b-” rating to a “c+” rating in a research note on Wednesday, November 15th. ValuEngine raised Rexnord from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America raised Rexnord from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Deutsche Bank set a $33.00 price objective on Rexnord and gave the stock a “buy” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.00.
Shares of Rexnord Corp (NYSE RXN) opened at $27.33 on Tuesday. The firm has a market capitalization of $2,991.47, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.77. The company has a quick ratio of 1.58, a current ratio of 2.49 and a debt-to-equity ratio of 1.05. Rexnord Corp has a 1-year low of $21.51 and a 1-year high of $31.44.
Rexnord (NYSE:RXN) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.10. The business had revenue of $492.30 million during the quarter, compared to the consensus estimate of $479.66 million. Rexnord had a return on equity of 13.05% and a net margin of 8.29%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. equities analysts anticipate that Rexnord Corp will post 1.31 EPS for the current year.
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Rexnord 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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