Charles Schwab Investment Management Inc. Buys 15,280 Shares of Crane NXT, Co. (NYSE:CXT)

Charles Schwab Investment Management Inc. lifted its stake in Crane NXT, Co. (NYSE:CXT) by 3.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 460,143 shares of the company’s stock after buying an additional 15,280 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Crane NXT were worth $26,790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp grew its position in Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after acquiring an additional 276 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane NXT in the 3rd quarter worth about $32,000. Venturi Wealth Management LLC increased its position in shares of Crane NXT by 985.4% during the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock worth $95,000 after purchasing an additional 1,488 shares in the last quarter. Quest Partners LLC bought a new position in Crane NXT during the 3rd quarter valued at about $181,000. Finally, Oak Thistle LLC bought a new position in Crane NXT during the 4th quarter valued at about $203,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

CXT opened at $55.27 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The company’s 50 day simple moving average is $59.85 and its 200-day simple moving average is $58.34. Crane NXT, Co. has a one year low of $52.05 and a one year high of $67.01. The stock has a market capitalization of $3.16 billion, a P/E ratio of 17.33 and a beta of 1.32.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Sell-side analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Friday, February 28th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio (DPR) is 21.32%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two equities research 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 company’s stock. According to data from MarketBeat, Crane NXT has a consensus rating of “Moderate Buy” and an average target price of $83.33.

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.