Victory Capital Management Inc. Increases Position in Crane NXT, Co. (NYSE:CXT)

Victory Capital Management Inc. grew its holdings in Crane NXT, Co. (NYSE:CXT) by 13.4% during the 1st quarter, Holdings Channel reports. The fund owned 1,367,931 shares of the company’s stock after buying an additional 161,417 shares during the period. Victory Capital Management Inc.’s holdings in Crane NXT were worth $70,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of CXT. Capital International Investors grew its position in shares of Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock worth $78,658,000 after buying an additional 597,537 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings 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 valued at $59,470,000 after acquiring an additional 499,290 shares in the last quarter. Norges Bank acquired a new position in shares of Crane NXT in the 4th quarter valued at $26,754,000. Conestoga Capital Advisors LLC grew its position in Crane NXT by 83.5% in the 1st quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company’s stock valued at $51,048,000 after buying an additional 451,814 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Crane NXT by 4.1% during the 4th quarter. FMR LLC now owns 8,576,731 shares of the company’s stock worth $499,337,000 after buying an additional 336,765 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Stock Up 1.7%

CXT opened at $57.42 on Friday. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 19.73 and a beta of 1.29. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.20. The firm’s fifty day moving average is $55.03 and its 200 day moving average is $54.89.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. The firm had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 30th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. Crane NXT’s payout ratio is currently 23.37%.

Analyst Upgrades and Downgrades

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

Crane NXT Company 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.