541,340 Shares in Crane NXT, Co. (NYSE:CXT) Bought by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC acquired a new position in shares of Crane NXT, Co. (NYSE:CXT) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 541,340 shares of the company’s stock, valued at approximately $31,517,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Stifel Financial Corp raised its holdings in shares of Crane NXT by 60.6% during the 3rd quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock valued at $2,448,000 after buying an additional 16,465 shares during the period. Park Avenue Securities LLC acquired a new stake in Crane NXT in the fourth quarter valued at approximately $527,000. Barclays PLC raised its stake in shares of Crane NXT by 45.3% during the third quarter. Barclays PLC now owns 37,663 shares of the company’s stock valued at $2,113,000 after purchasing an additional 11,734 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Crane NXT by 12.3% during the third quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock worth $22,224,000 after purchasing an additional 43,439 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in shares of Crane NXT in the third quarter valued at $507,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

Shares of CXT stock opened at $62.23 on Monday. The firm has a market cap of $3.56 billion, a P/E ratio of 20.18 and a beta of 1.36. The firm has a fifty day moving average of $61.30 and a two-hundred day moving average of $58.57. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01. Crane NXT, Co. has a 1-year low of $52.89 and a 1-year high of $67.00.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The business had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. During the same period last year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, research analysts anticipate that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is presently 20.98%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Northland Securities cut their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Robert W. Baird boosted their price target on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Baird R W upgraded Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th.

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.