Vanguard Group Inc. Buys New Position in Crane NXT, Co. (NYSE:CXT)

Vanguard Group Inc. bought a new stake in Crane NXT, Co. (NYSE:CXT) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,515,867 shares of the company’s stock, valued at approximately $306,517,000. Vanguard Group Inc. owned approximately 9.71% of Crane NXT at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CXT. CWM LLC acquired a new stake in Crane NXT during the third quarter worth approximately $28,000. Acadian Asset Management LLC acquired a new position in shares of Crane NXT during the 3rd quarter valued at about $28,000. Ronald Blue Trust Inc. purchased a new position in shares of Crane NXT during the 3rd quarter worth about $30,000. Qube Research & Technologies Ltd acquired a new stake in shares of Crane NXT in the third quarter worth approximately $34,000. Finally, New England Capital Financial Advisors LLC purchased a new stake in Crane NXT in the third quarter valued at approximately $36,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Stock Performance

NYSE CXT opened at $61.54 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.93 and a quick ratio of 1.46. Crane NXT, Co. has a 1-year low of $36.85 and a 1-year high of $63.36. The firm has a market capitalization of $3.50 billion, a P/E ratio of 18.82 and a beta of 1.36. The business’s 50-day simple moving average is $59.36 and its 200-day simple moving average is $55.90.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.92 by $0.07. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The firm had revenue of $356.90 million for the quarter, compared to analyst estimates of $340.89 million. During the same quarter last year, the firm posted $2.13 earnings per share. Crane NXT’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts predict that Crane NXT, Co. will post 4.27 EPS for the current year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.04%. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, February 28th. Crane NXT’s dividend payout ratio is 19.57%.

Wall Street Analyst Weigh In

Separately, DA Davidson lifted their price target on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 18th.

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.