Charles Schwab Investment Management Inc. Has $23.17 Million Holdings in Crane NXT, Co. $CXT

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Crane NXT by 2.1%, holding 450,696 shares worth approximately $23.17 million as of the latest SEC filing.
• Institutional investments in Crane NXT have seen significant changes, with Renaissance Technologies increasing its position by 319.7% and other funds also boosting their stakes during the fourth quarter.
• Analysts maintain a Moderate Buy consensus rating for Crane NXT, with a current average price target set at $73.75 despite some recent price target reductions.

Charles Schwab Investment Management Inc. lowered its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 450,696 shares of the company's stock after selling 9,447 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.79% of Crane NXT worth $23,166,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in Crane NXT in the fourth quarter worth about $26,000. UMB Bank n.a. lifted its holdings in Crane NXT by 87.2% in the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after purchasing an additional 327 shares during the period. Quarry LP acquired a new stake in Crane NXT in the fourth quarter worth about $42,000. Fifth Third Bancorp lifted its holdings in Crane NXT by 46.0% in the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in Crane NXT in the first quarter worth about $44,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Price Performance

Crane NXT stock traded down $1.17 during midday trading on Wednesday, hitting $61.11. The company's stock had a trading volume of 545,093 shares, compared to its average volume of 430,505. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.73. The stock's 50-day moving average price is $58.06 and its 200-day moving average price is $54.26. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.00. The company has a market capitalization of $3.51 billion, a PE ratio of 23.32 and a beta of 1.33.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. The firm had revenue of $404.40 million for the quarter, compared to analysts' expectations of $382.79 million. Analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 29th. Crane NXT's payout ratio is presently 25.95%.

Analyst Ratings Changes

Several research firms recently weighed in on CXT. 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 report on Tuesday, May 13th. DA Davidson reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Crane NXT in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.