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

Victory Capital Management Inc. boosted its holdings in Crane NXT, Co. (NYSE:CXT) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,235,343 shares of the company’s stock after purchasing an additional 49,106 shares during the quarter. Victory Capital Management Inc. owned about 2.17% of Crane NXT worth $70,254,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CXT. FMR LLC purchased a new stake in Crane NXT during the 3rd quarter valued at approximately $402,528,000. Vanguard Group Inc. purchased a new position in Crane NXT in the 3rd quarter valued at $306,517,000. Lord Abbett & CO. LLC acquired a new position in shares of Crane NXT during the third quarter worth about $39,749,000. Pacer Advisors Inc. lifted its position in Crane NXT by 8,855.4% in the fourth quarter. Pacer Advisors Inc. now owns 705,688 shares of the company’s stock valued at $40,132,000 after purchasing an additional 697,808 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Crane NXT in the third quarter valued at about $36,326,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CXT. DA Davidson increased their target price on Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Northland Securities assumed coverage on shares of Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 price target for the company.

Crane NXT Stock Up 0.9 %

Shares of NYSE:CXT opened at $61.52 on Friday. The company has a market capitalization of $3.51 billion, a P/E ratio of 18.81 and a beta of 1.36. The stock’s fifty day simple moving average is $60.58 and its 200-day simple moving average is $56.88. Crane NXT, Co. has a 52-week low of $46.14 and a 52-week high of $63.89. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.07. The company had revenue of $356.90 million for the quarter, compared to analysts’ expectations of $340.89 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $2.13 EPS. As a group, equities research analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were paid a $0.16 dividend. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, February 28th. Crane NXT’s payout ratio is presently 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.