Crane NXT, Co. $CXT Stock Holdings Increased by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. increased its stake in Crane NXT by 40.4% in Q2, holding over 1.1 million shares valued at approximately $60 million.
• Crane NXT's quarterly earnings beat analyst expectations, reporting an EPS of $0.97 against a consensus estimate of $0.92, with revenues reaching $404.4 million.
• The company recently declared a quarterly dividend of $0.17 per share, resulting in an annualized yield of 1.1%.

Congress Asset Management Co. lifted its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 40.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,118,445 shares of the company's stock after purchasing an additional 322,033 shares during the quarter. Congress Asset Management Co. owned 1.95% of Crane NXT worth $60,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in CXT. Deutsche Bank AG lifted its position in shares of Crane NXT by 3.0% in the fourth quarter. Deutsche Bank AG now owns 5,831 shares of the company's stock worth $339,000 after purchasing an additional 168 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Crane NXT by 39.7% in the fourth quarter. Squarepoint Ops LLC now owns 14,480 shares of the company's stock worth $843,000 after purchasing an additional 4,113 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Crane NXT by 23.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 144,474 shares of the company's stock worth $8,411,000 after purchasing an additional 27,130 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Crane NXT in the fourth quarter worth approximately $26,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Crane NXT by 46.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,543 shares of the company's stock worth $381,000 after purchasing an additional 2,074 shares in the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Trading Up 1.1%

NYSE:CXT opened at $63.23 on Friday. The stock's 50 day moving average price is $59.82 and its 200 day moving average price is $54.70. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.00. The company has a market capitalization of $3.63 billion, a P/E ratio of 24.13 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The firm had revenue of $404.40 million for the quarter, compared to the consensus estimate of $382.79 million. On average, research analysts forecast 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, September 10th. Shareholders of record on Friday, August 29th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 29th. Crane NXT's dividend payout ratio (DPR) is 25.95%.

Analysts Set New Price Targets

Separately, DA Davidson restated a "buy" rating and issued a $85.00 price objective on shares of Crane NXT in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Crane NXT has an average rating of "Moderate Buy" and an average 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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