Wells Fargo & Company MN lifted its stake in Rexnord Corp (NYSE:RXN) by 13.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,653,643 shares of the industrial products company’s stock after purchasing an additional 198,625 shares during the period. Wells Fargo & Company MN owned 1.59% of Rexnord worth $42,019,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Verition Fund Management LLC increased its stake in shares of Rexnord by 3.2% in the 2nd quarter. Verition Fund Management LLC now owns 20,939 shares of the industrial products company’s stock worth $487,000 after purchasing an additional 641 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Rexnord by 0.3% in the 2nd quarter. California Public Employees Retirement System now owns 230,400 shares of the industrial products company’s stock worth $5,357,000 after purchasing an additional 800 shares in the last quarter. Aperio Group LLC increased its stake in shares of Rexnord by 11.9% in the 2nd quarter. Aperio Group LLC now owns 9,774 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 1,043 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake 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 purchasing an additional 1,981 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Rexnord by 79.9% in the 2nd 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.

Shares of Rexnord Corp (NYSE:RXN) traded down $0.13 during mid-day trading on Tuesday, reaching $24.57. The company’s stock had a trading volume of 799,300 shares, compared to its average volume of 913,647. Rexnord Corp has a 1-year low of $19.32 and a 1-year high of $26.24. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.08 and a quick ratio of 2.23. The stock has a market cap of $2,560.00, a price-to-earnings ratio of 20.76, a PEG ratio of 1.97 and a beta of 1.65.

Rexnord (NYSE:RXN) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Rexnord had a return on equity of 12.03% and a net margin of 4.45%. The business had revenue of $510.80 million during the quarter, compared to analyst estimates of $505.75 million. During the same quarter in the prior year, the business posted $0.38 EPS. Rexnord’s revenue for the quarter was up 4.0% compared to the same quarter last year. equities analysts anticipate that Rexnord Corp will post 1.26 earnings per share for the current fiscal year.

Several research firms have recently commented on RXN. Zacks Investment Research upgraded Rexnord from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Oppenheimer restated a “hold” rating on shares of Rexnord in a research note on Thursday, September 28th. TheStreet lowered Rexnord from a “b-” rating to a “c+” rating in a research note on Wednesday, November 15th. Finally, Robert W. Baird set a $27.00 price objective on Rexnord and gave the stock a “buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $27.00.

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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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