TimesSquare Capital Management LLC Has $67.10 Million Holdings in Rexnord Corporation (RXN)
TimesSquare Capital Management LLC cut its holdings in Rexnord Corporation (NYSE:RXN) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,885,822 shares of the industrial products company’s stock after selling 298,400 shares during the period. TimesSquare Capital Management LLC owned about 2.78% of Rexnord Corporation worth $67,095,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of RXN. Manchester Capital Management LLC increased its position in shares of Rexnord Corporation by 171.6% during the second quarter. Manchester Capital Management LLC now owns 5,540 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 3,500 shares in the last quarter. Strs Ohio acquired a new stake in shares of Rexnord Corporation during the second quarter worth about $139,000. US Bancorp DE increased its position in shares of Rexnord Corporation by 79.9% during the second quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 2,697 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Rexnord Corporation during the first quarter worth about $165,000. Finally, Karp Capital Management Corp acquired a new stake in shares of Rexnord Corporation during the first quarter worth about $202,000.
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RXN has been the topic of a number of research analyst reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Rexnord Corporation in a research report on Thursday, May 18th. TheStreet upgraded Rexnord Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. Zacks Investment Research upgraded Rexnord Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 22nd. BidaskClub upgraded Rexnord Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Janney Montgomery Scott initiated coverage on Rexnord Corporation in a research report on Friday, July 21st. They set a “buy” rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Rexnord Corporation currently has a consensus rating of “Hold” and an average target price of $26.00.
Rexnord Corporation (NYSE RXN) opened at 24.28 on Friday. The firm has a market cap of $2.52 billion, a PE ratio of 36.79 and a beta of 1.68. Rexnord Corporation has a 12 month low of $15.80 and a 12 month high of $25.50. The company has a 50-day moving average price of $23.89 and a 200 day moving average price of $23.39.
Rexnord Corporation (NYSE:RXN) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. Rexnord Corporation had a net margin of 4.22% and a return on equity of 14.27%. The business had revenue of $487.70 million for the quarter, compared to analysts’ expectations of $484.20 million. During the same quarter last year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that Rexnord Corporation will post $1.27 EPS for the current year.
Rexnord Corporation 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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