Driehaus Capital Management LLC Boosts Stock Position in Crane $CR

Key Points

• Driehaus Capital Management LLC increased its stake in Crane by 3.1%, accumulating 492,193 shares worth approximately $75.4 million, highlighting ongoing institutional interest in the company.
• Crane announced a quarterly dividend of $0.23, which will be paid on September 10, indicating a sustained commitment to returning value to shareholders.
• Analysts have raised price targets for Crane, with estimates ranging from $200.00 to $230.00 based on multiple ratings of "Buy" and "Hold," reflecting positive sentiment about the company's performance.

Driehaus Capital Management LLC grew its position in Crane (NYSE:CR - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 492,193 shares of the conglomerate's stock after acquiring an additional 14,589 shares during the quarter. Driehaus Capital Management LLC owned about 0.86% of Crane worth $75,394,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Trexquant Investment LP lifted its holdings in shares of Crane by 1,285.3% during the first quarter. Trexquant Investment LP now owns 21,721 shares of the conglomerate's stock worth $3,327,000 after purchasing an additional 20,153 shares during the period. Avalon Global Asset Management LLC acquired a new stake in shares of Crane during the first quarter worth $6,893,000. Synovus Financial Corp lifted its holdings in shares of Crane by 16.5% during the first quarter. Synovus Financial Corp now owns 10,572 shares of the conglomerate's stock worth $1,619,000 after purchasing an additional 1,500 shares during the period. Walleye Capital LLC lifted its holdings in shares of Crane by 14.7% during the first quarter. Walleye Capital LLC now owns 116,055 shares of the conglomerate's stock worth $17,777,000 after purchasing an additional 14,832 shares during the period. Finally, Jump Financial LLC lifted its holdings in shares of Crane by 31.8% during the first quarter. Jump Financial LLC now owns 27,622 shares of the conglomerate's stock worth $4,231,000 after purchasing an additional 6,664 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Crane Trading Down 1.1%

NYSE:CR traded down $2.12 during mid-day trading on Tuesday, reaching $183.18. The company's stock had a trading volume of 382,377 shares, compared to its average volume of 311,944. The company's fifty day simple moving average is $191.05 and its two-hundred day simple moving average is $171.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a twelve month low of $127.04 and a twelve month high of $203.89. The stock has a market cap of $10.54 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.93 and a beta of 1.25.

Crane (NYSE:CR - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.15. The firm had revenue of $577.20 million for the quarter, compared to analyst estimates of $567.70 million. Crane had a return on equity of 24.45% and a net margin of 13.10%.The firm's quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. Crane has set its FY 2025 guidance at 5.500-5.800 EPS. On average, equities analysts predict that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

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

Insider Buying and Selling at Crane

In related news, VP Alejandro Alcala sold 20,791 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $192.74, for a total transaction of $4,007,257.34. Following the transaction, the vice president directly owned 33,526 shares of the company's stock, valued at approximately $6,461,801.24. The trade was a 38.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on CR. Stifel Nicolaus increased their price objective on Crane from $189.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. DA Davidson increased their price objective on Crane from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and issued a $230.00 price objective (up previously from $215.00) on shares of Crane in a research report on Wednesday, July 30th. Finally, Bank of America increased their price objective on Crane from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $222.20.

Crane 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.