Mackenzie Financial Corp Raises Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Mackenzie Financial Corp raised its position in shares of Crane NXT, Co. (NYSE:CXT) by 294.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 36,423 shares of the company’s stock after purchasing an additional 27,197 shares during the period. Mackenzie Financial Corp’s holdings in Crane NXT were worth $2,237,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CXT. Millennium Management LLC lifted its position in Crane NXT by 2.5% during the 2nd quarter. Millennium Management LLC now owns 55,071 shares of the company’s stock valued at $3,382,000 after acquiring an additional 1,365 shares during the period. Marshall Wace LLP bought a new position in shares of Crane NXT during the second quarter valued at approximately $737,000. Sei Investments Co. lifted its holdings in shares of Crane NXT by 2.6% during the second quarter. Sei Investments Co. now owns 144,302 shares of the company’s stock valued at $8,863,000 after purchasing an additional 3,634 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Crane NXT by 93.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock worth $69,716,000 after buying an additional 548,155 shares during the last quarter. Finally, AE Wealth Management LLC bought a new position in Crane NXT during the 2nd quarter valued at approximately $202,000. Institutional investors own 77.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research note on Monday.

Crane NXT Stock Up 1.5 %

Shares of Crane NXT stock opened at $55.82 on Thursday. The company has a 50-day simple moving average of $57.76 and a two-hundred day simple moving average of $59.72. The stock has a market capitalization of $3.19 billion, a PE ratio of 17.61 and a beta of 1.33. Crane NXT, Co. has a 52-week low of $48.42 and a 52-week high of $64.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The company had revenue of $370.60 million during the quarter, compared to analyst estimates of $367.08 million. During the same period in the previous year, the business earned $1.12 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts anticipate that Crane NXT, Co. will post 4.28 EPS for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, August 30th. Crane NXT’s payout ratio is currently 20.19%.

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.