Versor Investments LP Lowers Stake in Crane $CR

Key Points

• Versor Investments LP reduced its stake in Crane by 38.8% during the first quarter, now holding 2,250 shares worth $345,000.
• Crane reported a 9.2% year-over-year revenue increase to $577.20 million and earnings per share of $1.49, exceeding analysts' estimates.
• The company declared a quarterly dividend of $0.23 per share, with an annualized yield of 0.5% and a payout ratio of 15.31%.

Versor Investments LP cut its stake in shares of Crane (NYSE:CR - Free Report) by 38.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,250 shares of the conglomerate's stock after selling 1,425 shares during the quarter. Versor Investments LP's holdings in Crane were worth $345,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new position in Crane during the first quarter valued at approximately $75,254,000. Select Equity Group L.P. increased its holdings in Crane by 25.2% during the fourth quarter. Select Equity Group L.P. now owns 754,170 shares of the conglomerate's stock valued at $114,445,000 after buying an additional 151,717 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Crane by 23.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 679,768 shares of the conglomerate's stock valued at $104,127,000 after buying an additional 130,218 shares during the period. Artemis Investment Management LLP purchased a new position in Crane during the first quarter valued at approximately $18,835,000. Finally, Bain Capital Public Equity Management II LLC boosted its stake in Crane by 27.0% in the fourth quarter. Bain Capital Public Equity Management II LLC now owns 431,254 shares of the conglomerate's stock valued at $65,443,000 after acquiring an additional 91,631 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Price Performance

Shares of Crane stock traded down $1.9930 during trading hours on Monday, reaching $192.2370. The stock had a trading volume of 272,878 shares, compared to its average volume of 310,328. The stock's 50 day moving average is $189.76 and its 200 day moving average is $171.06. The firm has a market capitalization of $11.06 billion, a PE ratio of 25.46, a PEG ratio of 1.93 and a beta of 1.26. Crane has a twelve month low of $127.04 and a twelve month high of $203.89. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR - Get Free Report) last announced its earnings results on Monday, July 28th. The conglomerate reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.15. The business had revenue of $577.20 million during the quarter, compared to analysts' expectations of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.The business's revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. Equities analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, August 29th. Crane's dividend payout ratio is presently 15.31%.

Analyst Upgrades and Downgrades

CR has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. UBS Group restated a "buy" rating and issued a $230.00 target price (up previously from $215.00) on shares of Crane in a research note on Wednesday, July 30th. DA Davidson raised their target price on Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Bank of America raised their target price on Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $222.20.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.