ArrowMark Colorado Holdings LLC Has $6.20 Million Holdings in Crane NXT, Co. $CXT

ArrowMark Colorado Holdings LLC cut its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 25.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,386 shares of the company’s stock after selling 31,044 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.16% of Crane NXT worth $6,196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its position in Crane NXT by 141.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Crane NXT during the third quarter worth $28,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Crane NXT in the third quarter valued at $33,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Crane NXT in the third quarter valued at $34,000. Finally, Neo Ivy Capital Management bought a new position in shares of Crane NXT in the third quarter valued at about $40,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CXT has been the topic of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. Zacks Research raised shares of Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Robert W. Baird set a $73.00 target price on shares of Crane NXT in a research report on Friday, February 13th. CJS Securities raised shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Northland Securities set a $62.00 price target on shares of Crane NXT in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Crane NXT presently has an average rating of “Moderate Buy” and an average target price of $71.60.

Crane NXT Price Performance

Shares of CXT stock opened at $42.24 on Monday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 16.83 and a beta of 1.18. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $69.00. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $50.33 and a 200 day moving average price of $56.06.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The company had revenue of $476.90 million for the quarter, compared to the consensus estimate of $450.53 million. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 EPS. Research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Saturday, February 28th were issued a $0.18 dividend. This is an increase from Crane NXT’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, February 27th. Crane NXT’s dividend payout ratio (DPR) is currently 28.69%.

Crane NXT Profile

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.