Vanguard Group Inc. Cuts Position in Crane NXT, Co. $CXT

Vanguard Group Inc. lessened its stake in Crane NXT, Co. (NYSE:CXT) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,914,853 shares of the company’s stock after selling 16,142 shares during the quarter. Vanguard Group Inc. owned approximately 10.31% of Crane NXT worth $304,023,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in Crane NXT by 13.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company’s stock valued at $70,312,000 after acquiring an additional 161,417 shares during the period. Capital International Investors increased its holdings in shares of Crane NXT by 79.3% in the fourth quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock worth $78,658,000 after purchasing an additional 597,537 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Crane NXT by 12.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,229,469 shares of the company’s stock worth $71,579,000 after purchasing an additional 136,810 shares during the period. Silvercrest Asset Management Group LLC grew its position in Crane NXT by 95.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company’s stock worth $59,470,000 after acquiring an additional 499,290 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in Crane NXT by 83.5% in the first quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company’s stock worth $51,048,000 after acquiring an additional 451,814 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CXT. DA Davidson cut their target price on shares of Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, May 9th. UBS Group cut their price target on shares of Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.75.

Crane NXT Stock Performance

NYSE CXT opened at $59.46 on Monday. The company has a 50-day simple moving average of $57.14 and a two-hundred day simple moving average of $54.26. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.73. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.00. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 22.69 and a beta of 1.33.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $404.40 million during the quarter, compared to the consensus estimate of $382.79 million. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. On average, equities analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT’s dividend payout ratio is 25.95%.

About Crane NXT

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions.