Envestnet Asset Management Inc. Acquires 28,956 Shares of Crane NXT, Co. (NYSE:CXT)

Envestnet Asset Management Inc. raised its stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 16.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,365 shares of the company's stock after buying an additional 28,956 shares during the quarter. Envestnet Asset Management Inc. owned about 0.37% of Crane NXT worth $10,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CXT. Proficio Capital Partners LLC purchased a new stake in Crane NXT during the 4th quarter valued at approximately $675,000. Raymond James Financial Inc. bought a new position in shares of Crane NXT during the 4th quarter valued at approximately $2,580,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Crane NXT during the 4th quarter valued at approximately $334,000. Corient Private Wealth LLC boosted its position in shares of Crane NXT by 1.2% during the 4th quarter. Corient Private Wealth LLC now owns 21,139 shares of the company's stock valued at $1,231,000 after acquiring an additional 254 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Crane NXT by 84.5% during the 4th quarter. Boston Partners now owns 22,313 shares of the company's stock valued at $1,299,000 after acquiring an additional 10,216 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on CXT shares. UBS Group lowered their target price on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. DA Davidson lowered their target price on Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Crane NXT presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Trading Down 2.1%

CXT traded down $1.25 during trading on Thursday, reaching $58.44. The company had a trading volume of 290,714 shares, compared to its average volume of 328,240. The stock has a market cap of $3.35 billion, a P/E ratio of 20.08 and a beta of 1.29. The business has a 50 day simple moving average of $55.35 and a 200-day simple moving average of $54.86. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.00. The company has a quick ratio of 0.92, a current ratio of 1.20 and a debt-to-equity ratio of 0.49.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. Crane NXT's revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. On average, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Crane NXT's dividend payout ratio is presently 23.37%.

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.