Is Rexnord Corp (RXN) A Good Stock To Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cut their positions entirely. It’s worth mentioning that Joel Greenblatt’s Gotham Asset Management cut the largest investment of all the hedgies followed by Insider Monkey, comprising about $2.4 million in stock. Gregg Moskowitz’s fund, Interval Partners, also said goodbye to its stock, about $2 million worth.

Let’s now review hedge fund activity in other stocks similar to Rexnord Corp (NYSE:RXN). These stocks are Watts Water Technologies Inc (NYSE:WTS), Pretium Resources Inc (NYSE:PVG), Dorman Products Inc. (NASDAQ:DORM), and The Corporate Executive Board Company (NYSE:CEB). This group of stocks’ market valuations resemble RXN’s market valuation.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $184 million. That figure was $192 million in RXN’s case. Pretium Resources Inc (NYSE:PVG) is the most popular stock in this table. On the other hand Dorman Products Inc. (NASDAQ:DORM) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Rexnord Corp (NYSE:RXN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None