UMB Bank n.a. Grows Holdings in Crane NXT, Co. (NYSE:CXT)

UMB Bank n.a. lifted its stake in shares of Crane NXT, Co. (NYSE:CXT) by 87.2% in the first quarter, Holdings Channel reports. The firm owned 702 shares of the company’s stock after buying an additional 327 shares during the period. UMB Bank n.a.’s holdings in Crane NXT were worth $36,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Crane NXT during the fourth quarter worth about $26,754,000. Sei Investments Co. increased its stake in shares of Crane NXT by 15.0% during the fourth quarter. Sei Investments Co. now owns 143,307 shares of the company’s stock worth $8,343,000 after purchasing an additional 18,735 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Crane NXT by 5,320.8% during the first quarter. GAMMA Investing LLC now owns 133,948 shares of the company’s stock worth $6,885,000 after purchasing an additional 131,477 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Crane NXT by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 460,143 shares of the company’s stock worth $26,790,000 after purchasing an additional 15,280 shares in the last quarter. Finally, Amundi acquired a new position in shares of Crane NXT during the 4th quarter worth approximately $486,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Down 1.5%

Shares of NYSE CXT opened at $54.42 on Monday. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 17.06 and a beta of 1.30. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.01. The business’s 50 day moving average is $50.30 and its two-hundred day moving average is $55.45.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. Research analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, May 30th. Crane NXT’s dividend payout ratio is currently 23.37%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. UBS Group dropped their price target on shares of Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Northland Securities cut shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a research note on Tuesday, February 18th. Finally, DA Davidson decreased their price objective on Crane NXT from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.