Conestoga Capital Advisors LLC Purchases New Stake in Crane NXT, Co. (NYSE:CXT)

Conestoga Capital Advisors LLC acquired a new position in Crane NXT, Co. (NYSE:CXT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 541,340 shares of the company’s stock, valued at approximately $31,517,000. Conestoga Capital Advisors LLC owned approximately 0.95% of Crane NXT as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of CXT. Stifel Financial Corp increased its stake in Crane NXT by 60.6% in the 3rd quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock valued at $2,448,000 after purchasing an additional 16,465 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of Crane NXT in the fourth quarter valued at $527,000. Barclays PLC raised its stake in shares of Crane NXT by 45.3% during the 3rd quarter. Barclays PLC now owns 37,663 shares of the company’s stock worth $2,113,000 after buying an additional 11,734 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Crane NXT by 12.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock worth $22,224,000 after buying an additional 43,439 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in Crane NXT in the 3rd quarter valued at about $507,000. Institutional investors and hedge funds own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CXT shares. Northland Securities cut their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Baird R W upgraded Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird upped their price objective on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

Crane NXT Trading Down 2.7 %

Shares of CXT opened at $62.23 on Monday. The company has a market capitalization of $3.56 billion, a PE ratio of 20.18 and a beta of 1.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. Crane NXT, Co. has a fifty-two week low of $52.89 and a fifty-two week high of $67.00. The stock has a fifty day moving average of $61.30 and a two-hundred day moving average of $58.57.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. Crane NXT’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 earnings per share. As a group, analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is currently 20.98%.

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.