Conestoga Capital Advisors LLC Raises Holdings in Crane NXT, Co. (NYSE:CXT)

Conestoga Capital Advisors LLC boosted its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 83.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 993,154 shares of the company's stock after purchasing an additional 451,814 shares during the period. Conestoga Capital Advisors LLC owned about 1.73% of Crane NXT worth $51,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Capital International Investors boosted its stake in shares of Crane NXT by 79.3% in the fourth quarter. Capital International Investors now owns 1,351,044 shares of the company's stock worth $78,658,000 after buying an additional 597,537 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in Crane NXT by 95.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company's stock valued at $59,470,000 after acquiring an additional 499,290 shares during the period. Norges Bank acquired a new position in Crane NXT in the fourth quarter valued at approximately $26,754,000. FMR LLC boosted its position in Crane NXT by 4.1% in the 4th quarter. FMR LLC now owns 8,576,731 shares of the company's stock worth $499,337,000 after purchasing an additional 336,765 shares in the last quarter. Finally, Capital World Investors acquired a new stake in shares of Crane NXT during the 4th quarter worth approximately $10,719,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Price Performance

Shares of Crane NXT stock traded up $0.06 on Friday, reaching $54.60. The company's stock had a trading volume of 632,623 shares, compared to its average volume of 438,768. The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.13 billion, a P/E ratio of 18.76 and a beta of 1.30. The stock has a 50-day moving average price of $51.11 and a 200-day moving average price of $55.35. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.00.

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

Crane NXT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Friday, May 30th. Crane NXT's dividend payout ratio is presently 23.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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 report on Friday, May 9th. UBS Group cut 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. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Company 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.