Legal & General Group Plc Invests $3.54 Million in Crane NXT, Co. $CXT

Key Points

• Legal & General Group Plc acquired 69,121 shares of Crane NXT worth approximately $3.54 million, while institutional investors collectively own 77.49% of the company.
• Crane NXT reported quarterly earnings of $1.10 per share and revenue of $493.2 million, exceeding analyst estimates; revenue increased 22.1% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with a $68.20 target price. The company also declared a quarterly dividend of $0.18 per share, representing a 1.4% annualized yield.

Legal & General Group Plc purchased a new stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 69,121 shares of the company's stock, valued at approximately $3,536,000. Legal & General Group Plc owned 0.12% of Crane NXT as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Crane NXT in the 2nd quarter worth approximately $329,797,000. Alliancebernstein L.P. increased its holdings in Crane NXT by 2,449.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company's stock valued at $95,446,000 after purchasing an additional 1,701,361 shares during the last quarter. Channing Capital Management LLC raised its position in Crane NXT by 632.9% in the fourth quarter. Channing Capital Management LLC now owns 1,571,769 shares of the company's stock valued at $73,983,000 after purchasing an additional 1,357,312 shares during the period. Norges Bank purchased a new stake in Crane NXT in the fourth quarter valued at approximately $30,057,000. Finally, Bank of New York Mellon Corp acquired a new position in Crane NXT during the second quarter worth $23,160,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Analyst Upgrades and Downgrades

CXT has been the subject of a number of research reports. Northland Securities set a $65.00 price objective on Crane NXT in a research note on Monday, August 10th. Zacks Research upgraded Crane NXT from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Robert W. Baird set a $68.00 target price on Crane NXT in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Crane NXT from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.20.

Crane NXT Stock Performance

Shares of CXT opened at $50.13 on Friday. Crane NXT, Co. has a 1 year low of $35.71 and a 1 year high of $69.00. The stock has a market capitalization of $2.89 billion, a PE ratio of 20.71 and a beta of 1.08. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.07 and a current ratio of 1.42. The stock has a 50-day simple moving average of $51.22 and a 200-day simple moving average of $46.29.

Crane NXT (NYSE:CXT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.06. Crane NXT had a net margin of 7.78% and a return on equity of 19.87%. The firm had revenue of $493.20 million for the quarter, compared to analyst estimates of $475.62 million. During the same period in the prior year, the firm earned $0.97 earnings per share. The business's quarterly revenue was up 22.1% compared to the same quarter last year. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. On average, analysts predict that Crane NXT, Co. will post 4.27 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 31st will be paid a $0.18 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. Crane NXT's dividend payout ratio (DPR) is currently 29.75%.

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. 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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