Janus Henderson Group PLC bought a new stake in Rexnord Corporation (NYSE:RXN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,439,377 shares of the industrial products company’s stock, valued at approximately $312,466,000. Janus Henderson Group PLC owned 12.95% of Rexnord Corporation as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Rexnord Corporation by 67.1% in the first quarter. Bank of New York Mellon Corp now owns 601,852 shares of the industrial products company’s stock valued at $13,891,000 after purchasing an additional 241,772 shares in the last quarter. Swiss National Bank increased its stake in Rexnord Corporation by 1.8% in the first quarter. Swiss National Bank now owns 169,000 shares of the industrial products company’s stock valued at $3,901,000 after purchasing an additional 3,000 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Rexnord Corporation by 0.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,557,111 shares of the industrial products company’s stock valued at $35,938,000 after purchasing an additional 6,800 shares in the last quarter. Karp Capital Management Corp bought a new stake in Rexnord Corporation in the first quarter valued at $202,000. Finally, Parametric Portfolio Associates LLC increased its stake in Rexnord Corporation by 135.2% in the first quarter. Parametric Portfolio Associates LLC now owns 344,839 shares of the industrial products company’s stock valued at $7,959,000 after purchasing an additional 198,235 shares in the last quarter.

Several equities research analysts have weighed in on RXN shares. Janney Montgomery Scott started coverage on shares of Rexnord Corporation in a research note on Friday, July 21st. They issued a “buy” rating and a $27.00 price target for the company. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Rexnord Corporation in a research note on Thursday, September 28th. Zacks Investment Research downgraded shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Robert W. Baird set a $27.00 price target on shares of Rexnord Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, BidaskClub raised shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $26.00.

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Rexnord Corporation (RXN) traded up 0.51% during midday trading on Friday, reaching $25.78. 57,036 shares of the company’s stock traded hands. The stock has a market cap of $2.67 billion, a P/E ratio of 39.06 and a beta of 1.63. Rexnord Corporation has a 52-week low of $15.80 and a 52-week high of $26.11. The company’s 50-day moving average price is $24.57 and its 200-day moving average price is $23.69.

Rexnord Corporation (NYSE:RXN) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Rexnord Corporation had a net margin of 4.22% and a return on equity of 14.27%. The company had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $484.20 million. During the same period last year, the company posted $0.35 EPS. Rexnord Corporation’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts predict that Rexnord Corporation will post $1.27 EPS for the current fiscal year.

In related news, insider Michael Troutman sold 22,914 shares of Rexnord Corporation stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $24.15, for a total transaction of $553,373.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.50% of the company’s stock.

About Rexnord Corporation

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 Corporation (NYSE:RXN)

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