LSV Asset Management Sells 3,080 Shares of Crane NXT, Co. (NYSE:CXT)

LSV Asset Management trimmed its position in Crane NXT, Co. (NYSE:CXT) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 247,506 shares of the company’s stock after selling 3,080 shares during the period. LSV Asset Management owned approximately 0.44% of Crane NXT worth $14,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in Crane NXT by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,235,343 shares of the company’s stock valued at $70,254,000 after acquiring an additional 49,106 shares in the last quarter. Anchor Capital Advisors LLC lifted its position in shares of Crane NXT by 87.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 15,530 shares of the company’s stock worth $883,000 after purchasing an additional 7,249 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Crane NXT by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 60,465 shares of the company’s stock worth $3,439,000 after purchasing an additional 185 shares during the last quarter. Russell Investments Group Ltd. grew its position in Crane NXT by 10.6% in the fourth quarter. Russell Investments Group Ltd. now owns 149,485 shares of the company’s stock valued at $8,502,000 after purchasing an additional 14,266 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Crane NXT by 16.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 49,021 shares of the company’s stock valued at $2,788,000 after purchasing an additional 7,017 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CXT. Northland Securities started coverage on Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 price objective for the company. DA Davidson raised their price target on Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 18th.

Crane NXT Stock Performance

Shares of CXT opened at $62.04 on Tuesday. The company has a market cap of $3.54 billion, a PE ratio of 18.97 and a beta of 1.36. The firm has a 50-day moving average of $60.60 and a 200-day moving average of $57.00. Crane NXT, Co. has a one year low of $47.96 and a one year high of $63.89. 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 (NYSE:CXT) last issued its earnings results on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.07. The business had revenue of $356.90 million during the quarter, compared to the consensus estimate of $340.89 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. Crane NXT’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $2.13 EPS. As a group, equities analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders 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 1.03%. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 28th. Crane NXT’s payout ratio is 19.57%.

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.