Crane NXT, Co. (NYSE:CXT) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. raised its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 796,412 shares of the company's stock after purchasing an additional 43,678 shares during the quarter. Congress Asset Management Co. owned about 1.39% of Crane NXT worth $40,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of Crane NXT in the fourth quarter valued at about $26,000. Quarry LP acquired a new stake in Crane NXT in the fourth quarter valued at approximately $42,000. Covestor Ltd grew its position in Crane NXT by 38.6% in the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after acquiring an additional 206 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Crane NXT during the fourth quarter valued at approximately $83,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Crane NXT by 985.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock worth $95,000 after purchasing an additional 1,488 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CXT. UBS Group lowered their price target 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. Northland Securities downgraded Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price for the company. in a research note on Tuesday, February 18th. Northland Capmk cut Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, DA Davidson reduced their price target on Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 9th. Three equities 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Down 0.8%

CXT stock traded down $0.43 during mid-day trading on Wednesday, hitting $55.80. 222,995 shares of the company were exchanged, compared to its average volume of 397,095. The firm has a fifty day simple moving average of $49.62 and a 200 day simple moving average of $55.66. The company has a market capitalization of $3.20 billion, a PE ratio of 17.45 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 current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

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

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be issued a $0.17 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. Crane NXT's dividend payout ratio (DPR) is 23.37%.

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.