Verition Fund Management LLC Purchases Shares of 12,164 Rexnord Corp (RXN)

Verition Fund Management LLC purchased a new position in shares of Rexnord Corp (NYSE:RXN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,164 shares of the industrial products company’s stock, valued at approximately $317,000.

Several other large investors have also recently made changes to their positions in the company. GCA Investment Management LLC boosted its stake in shares of Rexnord by 29.1% during the 4th quarter. GCA Investment Management LLC now owns 1,114,194 shares of the industrial products company’s stock worth $28,991,000 after acquiring an additional 251,077 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Rexnord by 61.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 443,188 shares of the industrial products company’s stock worth $11,532,000 after acquiring an additional 168,324 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Rexnord by 384.1% during the 4th quarter. Teachers Advisors LLC now owns 904,799 shares of the industrial products company’s stock worth $23,543,000 after acquiring an additional 717,908 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Rexnord by 2.5% during the 4th quarter. Raymond James & Associates now owns 122,784 shares of the industrial products company’s stock worth $3,195,000 after acquiring an additional 2,937 shares in the last quarter. Finally, HBK Investments L P boosted its stake in shares of Rexnord by 308.1% during the 4th quarter. HBK Investments L P now owns 262,800 shares of the industrial products company’s stock worth $6,838,000 after acquiring an additional 198,400 shares in the last quarter. 99.81% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Rexnord Corp (NYSE:RXN) opened at $29.13 on Monday. Rexnord Corp has a 52 week low of $21.85 and a 52 week high of $31.44. The company has a quick ratio of 1.58, a current ratio of 2.49 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $3,028.90, a P/E ratio of 22.24, a P/E/G ratio of 1.74 and a beta of 1.65.

Rexnord (NYSE:RXN) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.10. Rexnord had a return on equity of 13.05% and a net margin of 8.29%. The firm had revenue of $492.30 million for the quarter, compared to analyst estimates of $479.66 million. During the same quarter in the prior year, the company earned $0.25 EPS. Rexnord’s revenue was up 9.0% on a year-over-year basis. equities analysts forecast that Rexnord Corp will post 1.35 earnings per share for the current year.

Several brokerages have recently commented on RXN. Bank of America raised Rexnord from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Barclays began coverage on Rexnord in a research note on Thursday, February 15th. They set an “equal weight” rating and a $30.00 price target on the stock. KeyCorp boosted their price target on Rexnord from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Zacks Investment Research lowered Rexnord from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, UBS raised Rexnord from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $30.57.

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About Rexnord

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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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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