Water Asset Management buys $5,840,065 stake in Rexnord Corp (RXN)

Rexnord Corp (RXN) : Water Asset Management scooped up 10,000 additional shares in Rexnord Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 276,126 shares of Rexnord Corp which is valued at $5,840,065.Rexnord Corp makes up approximately 4.77% of Water Asset Management’s portfolio.

Other Hedge Funds, Including , Bluecrest Capital Management Ltd boosted its stake in RXN in the latest quarter, The investment management firm added 19,325 additional shares and now holds a total of 79,225 shares of Rexnord Corp which is valued at $1,675,609. Rexnord Corp makes up approx 0.14% of Bluecrest Capital Management Ltd’s portfolio.Lord Abbett reduced its stake in RXN by selling 61,725 shares or 26.04% in the most recent quarter. The Hedge Fund company now holds 175,300 shares of RXN which is valued at $3,707,595. Rexnord Corp makes up approx 0.01% of Lord Abbett’s portfolio.Timessquare Capital Management reduced its stake in RXN by selling 134,500 shares or 2.72% in the most recent quarter. The Hedge Fund company now holds 4,805,892 shares of RXN which is valued at $101,644,616. Rexnord Corp makes up approx 0.64% of Timessquare Capital Management’s portfolio.New York State Common Retirement Fund boosted its stake in RXN in the latest quarter, The investment management firm added 121,311 additional shares and now holds a total of 258,462 shares of Rexnord Corp which is valued at $5,466,471. Rexnord Corp makes up approx 0.01% of New York State Common Retirement Fund’s portfolio. Rs Investment Management Co added RXN to its portfolio by purchasing 820,680 company shares during the most recent quarter which is valued at $17,661,034. Rexnord Corp makes up approx 0.17% of Rs Investment Management Co’s portfolio.

Rexnord Corp closed down -0.37 points or -1.67% at $21.74 with 3,89,664 shares getting traded on Thursday. Post opening the session at $22.07, the shares hit an intraday low of $21.61 and an intraday high of $22.12 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Rexnord Corp reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.30. The company had revenue of $472.00 million for the quarter, compared to analysts expectations of $458.90 million. The company’s revenue was down -2.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on Rexnord Corp. Robert W. Baird Downgraded Rexnord Corp on Jun 23, 2016 to ” Neutral”, Price Target of the shares are set at $22.

Rexnord Corporation (Rexnord) 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 engineered mechanical components such as gears and gear drives couplings industrial bearings FlatTop and engineered chain aerospace bearings and seals under various brands including Rexnord Rex Falk and Link-Belt. The Water Management platform designs procures manufactures and markets products that provide water quality safety flow control and conservation under brands such as Zurn Wilkins VAG GA Rodney Hunt and Fontaine. The Water Management product portfolio includes specification drainage products sensor flush valves and faucet products pressure release valves sluice and slide gates butterfly and plug valves control valves and actuation systems and cross-linked polyethylene (PEX) piping.

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