Crane NXT, Co. $CXT Shares Acquired by Interval Partners LP

Key Points

• Interval Partners LP boosted its stake in Crane NXT by 68.6% in Q3, buying an additional 51,681 shares to hold 127,008 shares (about 0.22% of the company) valued at $8.518 million.
• Crane NXT beat Q3 expectations with EPS of $1.27 vs. $1.25 expected and revenue of $476.9M (up 19.5% YoY), and analysts forecast full-year EPS of 4.16.
• The company raised its quarterly dividend to $0.18 (annualized $0.72, 1.7% yield), and the consensus rating is a "Moderate Buy" with an average target price of $71.60.

Interval Partners LP boosted its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 68.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,008 shares of the company's stock after purchasing an additional 51,681 shares during the quarter. Interval Partners LP owned about 0.22% of Crane NXT worth $8,518,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Crane NXT by 141.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company's stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Crane NXT during the 3rd quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Crane NXT in the 3rd quarter worth $33,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Crane NXT in the 3rd quarter worth $34,000. Finally, Neo Ivy Capital Management acquired a new position in Crane NXT in the third quarter valued at $40,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Trading Down 1.4%

NYSE:CXT opened at $42.24 on Friday. The business's 50-day moving average is $50.33 and its two-hundred day moving average is $56.14. The firm has a market capitalization of $2.43 billion, a PE ratio of 16.83 and a beta of 1.18. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $69.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 1.20.

Crane NXT (NYSE:CXT - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.02. The business had revenue of $476.90 million during the quarter, compared to analyst estimates of $450.53 million. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. Research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Saturday, February 28th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.7%. This is a positive change from Crane NXT's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, February 27th. Crane NXT's dividend payout ratio is 28.69%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CXT. Northland Securities set a $62.00 price target on Crane NXT in a research report on Wednesday, February 18th. Robert W. Baird set a $73.00 price objective on Crane NXT in a research note on Friday, February 13th. DA Davidson reiterated a "buy" rating and set a $85.00 target price on shares of Crane NXT in a report on Tuesday, February 17th. CJS Securities raised shares of Crane NXT to a "strong-buy" rating in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Crane NXT in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Crane NXT currently has a consensus rating of "Moderate Buy" and an average target price of $71.60.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.

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