MQS Management LLC Invests $378,000 in Crane NXT, Co. (NYSE:CXT)

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

Several other large investors have also modified their holdings of the company. Isthmus Partners LLC acquired a new position in Crane NXT during the 1st quarter worth $1,480,000. Linden Thomas Advisory Services LLC increased its stake in shares of Crane NXT by 7.7% in the first quarter. Linden Thomas Advisory Services LLC now owns 22,218 shares of the company's stock worth $1,142,000 after purchasing an additional 1,595 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Crane NXT by 16.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 209,365 shares of the company's stock worth $10,761,000 after purchasing an additional 28,956 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Crane NXT during the 1st quarter valued at approximately $44,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Crane NXT by 7.0% during the first quarter. D.A. Davidson & CO. now owns 155,396 shares of the company's stock worth $7,987,000 after buying an additional 10,125 shares during the last quarter. 77.49% of the stock is owned by institutional investors.

Crane NXT Stock Performance

Shares of CXT stock traded down $1.03 during mid-day trading on Monday, reaching $57.58. The stock had a trading volume of 221,122 shares, compared to its average volume of 434,885. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.00. The firm has a market cap of $3.30 billion, a PE ratio of 19.79 and a beta of 1.29. The firm's 50 day simple moving average is $54.37 and its 200 day simple moving average is $54.88. The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.49.

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

Crane NXT Announces Dividend

The firm 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 of this dividend was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. Crane NXT's payout ratio is currently 23.37%.

Wall Street Analyst Weigh In

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

About Crane NXT

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.