nVerses Capital LLC Buys New Position in Crane NXT, Co. (NYSE:CXT)

nVerses Capital LLC purchased a new position in shares of Crane NXT, Co. (NYSE:CXT) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 800 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CXT. Pacer Advisors Inc. grew its holdings in shares of Crane NXT by 93.4% during the second 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. Dimensional Fund Advisors LP raised its stake in shares of Crane NXT by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock worth $66,626,000 after purchasing an additional 33,460 shares during the last quarter. Capital International Investors raised its position in Crane NXT by 40.0% during the 1st quarter. Capital International Investors now owns 653,052 shares of the company’s stock worth $40,424,000 after buying an additional 186,437 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Crane NXT by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 522,205 shares of the company’s stock valued at $32,074,000 after purchasing an additional 19,224 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of Crane NXT by 5.5% in the 1st quarter. Ancora Advisors LLC now owns 320,085 shares of the company’s stock valued at $19,813,000 after buying an additional 16,740 shares during the period. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

CXT stock opened at $55.58 on Wednesday. The company has a market cap of $3.18 billion, a PE ratio of 17.53 and a beta of 1.32. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $56.84 and a two-hundred day moving average price of $59.26. Crane NXT, Co. has a 12-month low of $48.42 and a 12-month high of $64.80.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. The firm had revenue of $370.60 million during the quarter, compared to the consensus estimate of $367.08 million. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. As a group, research analysts predict that Crane NXT, Co. will post 4.28 EPS for the current year.

Crane NXT Announces Dividend

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

Wall Street Analysts Forecast Growth

CXT has been the topic of a number of research analyst reports. Northland Securities decreased their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Robert W. Baird initiated coverage on Crane NXT in a research report on Thursday, October 17th. They issued an “outperform” rating and a $77.00 price objective on the stock. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, DA Davidson reissued a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th.

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.