Quest Partners LLC Takes Position in Crane NXT, Co. (NYSE:CXT)

Quest Partners LLC purchased a new stake in Crane NXT, Co. (NYSE:CXT) in the third quarter, Holdings Channel reports. The institutional investor purchased 3,226 shares of the company’s stock, valued at approximately $181,000.

A number of other large investors also recently modified their holdings of CXT. LRI Investments LLC lifted its stake in shares of Crane NXT by 1,875.0% in the 2nd quarter. LRI Investments LLC now owns 632 shares of the company’s stock valued at $39,000 after acquiring an additional 600 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Crane NXT in the 3rd quarter valued at $45,000. Hobbs Group Advisors LLC bought a new position in shares of Crane NXT in the 2nd quarter valued at $52,000. Blue Trust Inc. lifted its stake in shares of Crane NXT by 27.8% in the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after acquiring an additional 205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Crane NXT by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after purchasing an additional 265 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Stock Performance

Shares of Crane NXT stock opened at $62.84 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $56.32 and a two-hundred day moving average price of $58.34. Crane NXT, Co. has a 1-year low of $50.31 and a 1-year high of $64.80. The company has a market cap of $3.59 billion, a P/E ratio of 20.60 and a beta of 1.33.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share 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 firm 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 business posted $1.09 EPS. The business’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. Crane NXT’s payout ratio is currently 20.98%.

Wall Street Analyst Weigh In

CXT has been the subject of several analyst reports. Robert W. Baird raised their target price on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. DA Davidson reaffirmed a “buy” rating and set a $100.00 target price on shares of Crane NXT in a research report on Monday, September 30th. Northland Securities lowered their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Baird R W raised Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th.

Crane NXT 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.