California Public Employees Retirement System grew its holdings in Rexnord Corp (NYSE:RXN) by 3.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 237,525 shares of the industrial products company’s stock after buying an additional 7,125 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Rexnord worth $6,036,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Parametrica Management Ltd purchased a new position in shares of Rexnord in the 3rd quarter worth $212,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Rexnord by 27.7% in the 2nd 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 last quarter. Teacher Retirement System of Texas bought a new stake in shares of Rexnord in the 3rd quarter worth about $219,000. Prudential Financial Inc. bought a new stake in shares of Rexnord in the 2nd quarter worth about $230,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Rexnord in the 3rd quarter worth about $288,000.
Rexnord Corp (RXN) opened at $27.84 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.23 and a debt-to-equity ratio of 1.37. The company has a market cap of $2,921.33, a PE ratio of 42.18, a price-to-earnings-growth ratio of 2.25 and a beta of 1.65. Rexnord Corp has a 12-month low of $20.75 and a 12-month high of $28.44.
Rexnord (NYSE:RXN) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $510.80 million for the quarter, compared to the consensus estimate of $505.75 million. Rexnord had a net margin of 4.45% and a return on equity of 12.03%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. equities research analysts expect that Rexnord Corp will post 1.25 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Rexnord from a “sell” rating to a “hold” rating in a report on Tuesday. Bank of America upgraded shares of Rexnord from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Oppenheimer reiterated a “hold” rating on shares of Rexnord in a report on Thursday, September 28th. Finally, TheStreet lowered shares of Rexnord from a “b-” rating to a “c+” rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $27.00.
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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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