Institutional Investors Are Crazy For Rexnord Corp (NYSE:RXN)

May 17, 2018 - By Jeanette Kaplan

Rexnord Corporation (NYSE:RXN) Logo

Sentiment for Rexnord Corp (NYSE:RXN)

Rexnord Corp (NYSE:RXN) institutional sentiment increased to 1.71 in Q4 2017. Its up 0.18, from 1.53 in 2017Q3. The ratio is more positive, as 108 funds started new and increased holdings, while 63 decreased and sold stock positions in Rexnord Corp. The funds in our partner’s database now possess: 100.94 million shares, down from 103.44 million shares in 2017Q3. Also, the number of funds holding Rexnord Corp in their top 10 holdings increased from 2 to 4 for an increase of 2. Sold All: 22 Reduced: 41 Increased: 69 New Position: 39.

Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. The company has market cap of $2.99 billion. The firm operates in two divisions, Process & Motion Control Platform and Water Management Platform. It has a 21.22 P/E ratio. It offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chains, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, such as couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.

The stock decreased 0.17% or $0.05 during the last trading session, reaching $28.73. About 506,130 shares traded. Rexnord Corporation (NYSE:RXN) has risen 29.81% since May 17, 2017 and is uptrending. It has outperformed by 18.26% the S&P500.

Water Asset Management Llc holds 9.52% of its portfolio in Rexnord Corporation for 761,834 shares. Impax Asset Management Ltd owns 3.68 million shares or 2.64% of their US portfolio. Moreover, Channing Capital Management Llc has 2.47% invested in the company for 2.82 million shares. The Wisconsin-based Broadview Advisors Llc has invested 2.38% in the stock. Skyline Asset Management Lp, a Illinois-based fund reported 1.07 million shares.

Rexnord Corporation (NYSE:RXN) Ratings Coverage

Ratings analysis reveals 86% of Rexnord’s analysts are positive. Out of 7 Wall Street analysts rating Rexnord, 6 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $30 while the high is $36.0. The stock’s average target of $33.40 is 16.25% above today’s ($28.73) share price. RXN was included in 9 notes of analysts from January 8, 2018. The rating was maintained by Robert W. Baird with “Buy” on Monday, January 8. SunTrust maintained the shares of RXN in report on Thursday, March 22 with “Buy” rating. Robert W. Baird maintained Rexnord Corporation (NYSE:RXN) rating on Thursday, February 1. Robert W. Baird has “Buy” rating and $35.0 target. The firm earned “Outperform” rating on Thursday, February 8 by Oppenheimer. SunTrust maintained it with “Buy” rating and $34.0 target in Thursday, February 1 report. The rating was upgraded by Bank of America to “Buy” on Monday, January 8. The firm has “Overweight” rating by KeyBanc Capital Markets given on Thursday, February 1.

More notable recent Rexnord Corporation (NYSE:RXN) news were published by: Benzinga.com which released: “7 Stocks To Watch For May 14, 2018” on May 14, 2018, also Fool.com with their article: “Rexnord Corporation (RXN) Q4 2018 Earnings Conference Call Transcript” published on May 17, 2018, Benzinga.com published: “Earnings Scheduled For May 14, 2018” on May 14, 2018. More interesting news about Rexnord Corporation (NYSE:RXN) were released by: Seekingalpha.com and their article: “Rexnord’s (RXN) CEO Todd Adams on Q4 2018 Results – Earnings Call Transcript” published on May 15, 2018 as well as Seekingalpha.com‘s news article titled: “Rexnord Seeing Its Process Markets Kicking In” with publication date: May 16, 2018.

Rexnord Corporation (NYSE:RXN) Institutional Positions Chart

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