Bank of Nova Scotia acquired a new stake in shares of Crane Holdings, Co. (NYSE:CR – Get Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 50,515 shares of the conglomerate’s stock, valued at approximately $4,423,000.
Other large investors have also added to or reduced their stakes in the company. Pinebridge Investments L.P. raised its stake in Crane by 237.0% during the second quarter. Pinebridge Investments L.P. now owns 337 shares of the conglomerate’s stock valued at $30,000 after buying an additional 237 shares during the last quarter. Zions Bancorporation N.A. purchased a new position in Crane during the first quarter valued at $42,000. Prospera Financial Services Inc purchased a new position in Crane during the first quarter valued at $55,000. Patriot Financial Group Insurance Agency LLC raised its stake in Crane by 31.7% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 636 shares of the conglomerate’s stock valued at $69,000 after buying an additional 153 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Crane during the first quarter valued at $76,000. Hedge funds and other institutional investors own 69.62% of the company’s stock.
Insider Buying and Selling
In related news, CFO Richard A. Maue sold 5,907 shares of Crane stock in a transaction on Monday, November 7th. The stock was sold at an average price of $104.31, for a total value of $616,159.17. Following the completion of the sale, the chief financial officer now owns 79,147 shares of the company’s stock, valued at $8,255,823.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crane news, CFO Richard A. Maue sold 5,907 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $104.31, for a total transaction of $616,159.17. Following the completion of the sale, the chief financial officer now owns 79,147 shares of the company’s stock, valued at $8,255,823.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Alejandro Alcala sold 21,863 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $104.13, for a total value of $2,276,594.19. Following the sale, the senior vice president now directly owns 22,177 shares of the company’s stock, valued at approximately $2,309,291.01. The disclosure for this sale can be found here. Insiders sold 180,522 shares of company stock valued at $18,813,349 over the last 90 days. Company insiders own 2.40% of the company’s stock.
Crane Stock Performance
Crane (NYSE:CR – Get Rating) last issued its quarterly earnings data on Monday, October 24th. The conglomerate reported $1.86 EPS for the quarter, topping the consensus estimate of $1.85 by $0.01. Crane had a return on equity of 22.03% and a net margin of 12.25%. The company had revenue of $815.00 million during the quarter, compared to analyst estimates of $816.62 million. During the same quarter in the previous year, the company posted $1.89 earnings per share. Crane’s revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Crane Holdings, Co. will post 7.65 EPS for the current year.
Crane Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 30th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, November 29th. Crane’s payout ratio is currently 27.25%.
Analyst Ratings Changes
A number of research analysts have issued reports on CR shares. StockNews.com cut Crane from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 26th. TheStreet raised Crane from a “c+” rating to a “b-” rating in a report on Thursday, November 10th. Stifel Nicolaus reduced their target price on Crane from $123.00 to $121.00 and set a “buy” rating for the company in a report on Tuesday, October 11th. Finally, UBS Group reduced their target price on Crane from $130.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.67.
Crane Holdings Co, together with its subsidiaries, manufactures and sells engineered industrial products in the Americas, Europe, the Middle East, Asia, and Australia. The company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials.
- Get a free copy of the StockNews.com research report on Crane (CR)
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