Healthcare of Ontario Pension Plan Trust Fund Purchases New Shares in Crane NXT, Co. (NYSE:CXT)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Crane NXT, Co. (NYSE:CXT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 62,000 shares of the company’s stock, valued at approximately $3,526,000.

Several other large investors also recently added to or reduced their stakes in the stock. Barclays PLC purchased a new position in Crane NXT during the third quarter worth $1,346,000. Swiss National Bank purchased a new position in shares of Crane NXT during the 3rd quarter worth about $5,890,000. Charles Schwab Investment Management Inc. bought a new position in Crane NXT during the 3rd quarter valued at about $22,950,000. State of New Jersey Common Pension Fund D purchased a new stake in Crane NXT in the 3rd quarter worth about $2,334,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in Crane NXT in the third quarter worth about $549,000. 77.49% of the stock is owned by institutional investors.

Crane NXT Price Performance

Crane NXT stock opened at $63.22 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.12 and a quick ratio of 1.56. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 19.95 and a beta of 1.35. The firm has a 50-day moving average of $61.39 and a two-hundred day moving average of $59.04. Crane NXT, Co. has a 1 year low of $48.42 and a 1 year high of $63.89.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Crane NXT had a net margin of 13.26% and a return on equity of 25.50%. The firm had revenue of $313.60 million during the quarter, compared to analysts’ expectations of $311.72 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, research analysts forecast that Crane NXT, Co. will post 4.3 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, May 31st. Crane NXT’s payout ratio is 20.19%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Northland Securities started coverage on Crane NXT in a research note on Monday, April 8th. They set an “outperform” rating and a $91.00 target price on the stock. DA Davidson upped their price objective on Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, March 18th.

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.