Victory Capital Management Inc. Has $70.31 Million Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Victory Capital Management Inc. raised its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 13.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,367,931 shares of the company's stock after buying an additional 161,417 shares during the period. Victory Capital Management Inc. owned 2.38% of Crane NXT worth $70,312,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MQS Management LLC bought a new position in Crane NXT during the first quarter worth $378,000. Isthmus Partners LLC bought a new position in Crane NXT during the first quarter worth $1,480,000. Linden Thomas Advisory Services LLC raised its stake in Crane NXT by 7.7% during the first quarter. Linden Thomas Advisory Services LLC now owns 22,218 shares of the company's stock worth $1,142,000 after buying an additional 1,595 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Crane NXT by 16.1% during the first quarter. Envestnet Asset Management Inc. now owns 209,365 shares of the company's stock worth $10,761,000 after buying an additional 28,956 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Crane NXT in the first quarter valued at $44,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Crane NXT Stock Performance

Shares of Crane NXT stock traded down $0.21 during trading hours on Monday, hitting $57.05. 245,559 shares of the company were exchanged, compared to its average volume of 404,452. The business has a 50-day moving average of $55.12 and a 200-day moving average of $54.84. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 14.46 and a beta of 1.29. The company has a current ratio of 1.20, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The business had revenue of $330.30 million for the quarter, compared to the consensus estimate of $318.46 million. During the same period last year, the business posted $0.85 EPS. The company's revenue was up 5.3% on a year-over-year basis. As a group, analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, May 30th. Crane NXT's dividend payout ratio is presently 23.37%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CXT. UBS Group decreased their target price on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. DA Davidson decreased their price objective 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. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crane NXT currently has an average rating of "Moderate Buy" and an average price target of $73.75.

About Crane NXT

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.