Charles Schwab Investment Management Inc. Decreases Position 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. trimmed its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450,696 shares of the company's stock after selling 9,447 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.79% of Crane NXT worth $23,166,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. XTX Topco Ltd raised its holdings in Crane NXT by 16.9% during the 1st quarter. XTX Topco Ltd now owns 11,413 shares of the company's stock valued at $587,000 after buying an additional 1,654 shares during the period. Federated Hermes Inc. increased its position in Crane NXT by 44.0% during the first quarter. Federated Hermes Inc. now owns 44,316 shares of the company's stock valued at $2,278,000 after acquiring an additional 13,536 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in shares of Crane NXT in the first quarter valued at $841,000. LPL Financial LLC raised its stake in shares of Crane NXT by 18.9% in the first quarter. LPL Financial LLC now owns 60,611 shares of the company's stock valued at $3,115,000 after acquiring an additional 9,617 shares during the period. Finally, FourThought Financial Partners LLC lifted its holdings in shares of Crane NXT by 4.6% in the 1st quarter. FourThought Financial Partners LLC now owns 4,909 shares of the company's stock worth $252,000 after acquiring an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company's stock.

Wall Street Analyst Weigh In

CXT has been the topic of a number of recent analyst reports. DA Davidson reissued a "buy" rating and issued a $85.00 price objective on shares of Crane NXT in a research report on Monday, August 18th. UBS Group cut their target price on Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Trading Up 5.2%

Crane NXT stock traded up $3.1270 during trading hours on Friday, hitting $63.2770. The company had a trading volume of 375,062 shares, compared to its average volume of 414,715. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20. The firm has a market cap of $3.63 billion, a P/E ratio of 24.15 and a beta of 1.33. The company has a 50-day moving average price of $57.69 and a two-hundred day moving average price of $54.22. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.00.

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

Crane NXT Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Crane NXT's dividend payout ratio is currently 25.95%.

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.