Benjamin Edwards Inc. Takes $486,000 Position in Crane NXT, Co. (NYSE:CXT)

Benjamin Edwards Inc. bought a new stake in Crane NXT, Co. (NYSE:CXT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,658 shares of the company’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of Crane NXT by 2.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company’s stock worth $68,372,000 after acquiring an additional 33,664 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Crane NXT by 93.4% in the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after purchasing an additional 548,155 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Crane NXT by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock worth $66,626,000 after buying an additional 33,460 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of Crane NXT by 18.3% during the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock worth $41,672,000 after buying an additional 114,707 shares during the period. Finally, Bank of New York Mellon Corp grew its stake 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 buying an additional 19,224 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Performance

NYSE:CXT opened at $60.67 on Monday. 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 $50.31 and a fifty-two week high of $64.80. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 19.89 and a beta of 1.34. The stock has a fifty day moving average price of $57.05 and a 200-day moving average price of $58.42.

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

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.05%. Crane NXT’s dividend payout ratio is currently 20.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CXT. Robert W. Baird boosted their price objective on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. DA Davidson reiterated a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Northland Securities decreased their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th.

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.