Conestoga Capital Advisors LLC Purchases 451,814 Shares of Crane NXT, Co. (NYSE:CXT)

Conestoga Capital Advisors LLC lifted its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 83.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 993,154 shares of the company's stock after acquiring an additional 451,814 shares during the period. Conestoga Capital Advisors LLC owned 1.73% of Crane NXT worth $51,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp grew its stake 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. UMB Bank n.a. boosted its holdings in shares of Crane NXT by 87.2% during the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after buying an additional 327 shares in the last quarter. Congress Asset Management Co. grew its position in shares of Crane NXT by 5.8% in the 1st quarter. Congress Asset Management Co. now owns 796,412 shares of the company's stock worth $40,936,000 after buying an additional 43,678 shares during the period. Portside Wealth Group LLC bought a new position in shares of Crane NXT in the 1st quarter worth about $193,000. Finally, NBC Securities Inc. lifted its position in Crane NXT by 116,840.0% during the 1st quarter. NBC Securities Inc. now owns 5,847 shares of the company's stock valued at $300,000 after acquiring an additional 5,842 shares during the period. Hedge funds and other institutional investors own 77.49% of the company's stock.

Crane NXT Price Performance

Shares of NYSE CXT opened at $56.48 on Tuesday. The firm has a market cap of $3.24 billion, a P/E ratio of 17.70 and a beta of 1.30. Crane NXT, Co. has a twelve month low of $41.54 and a twelve month high of $67.01. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $50.58 and a 200 day moving average of $55.41.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. The firm had revenue of $330.30 million during the quarter, compared to analysts' expectations of $318.46 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company's revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, May 30th. Crane NXT's payout ratio is presently 23.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CXT. Northland Securities cut shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. in a report on Tuesday, February 18th. Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. DA Davidson lowered their price objective on Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, 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. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Crane NXT has a consensus rating of "Moderate Buy" and a consensus price target of $73.75.

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.

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