MQS Management LLC Buys New Holdings in Crane NXT, Co. (NYSE:CXT)

MQS Management LLC acquired a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,362 shares of the company's stock, valued at approximately $378,000.

Other large investors have also made changes to their positions in the company. Park Square Financial Group LLC bought a new position in Crane NXT during the 4th quarter worth about $26,000. UMB Bank n.a. increased its holdings in Crane NXT by 87.2% during the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after purchasing an additional 327 shares in the last quarter. Quarry LP bought a new position in Crane NXT during the 4th quarter worth about $42,000. Fifth Third Bancorp increased its holdings in Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Crane NXT by 38.6% during the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 77.49% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CXT shares. DA Davidson lowered their target price on Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 9th. UBS Group reduced their price objective on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Stock Up 1.7%

Shares of Crane NXT stock traded up $0.97 during trading hours on Thursday, reaching $57.42. 235,567 shares of the company's stock were exchanged, compared to its average volume of 404,342. The company has a 50 day moving average of $55.03 and a two-hundred day moving average of $54.89. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.01. The company has a current ratio of 1.20, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.29 billion, a P/E ratio of 19.73 and a beta of 1.29.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. The company had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. During the same period in the prior year, the business posted $0.85 EPS. The company's quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were paid a $0.17 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.68 annualized dividend and a yield of 1.18%. Crane NXT's dividend payout ratio (DPR) is currently 23.37%.

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.