Livforsakringsbolaget Skandia Omsesidigt Increases Holdings in Crane NXT, Co. $CXT

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Crane NXT, Co. by 54.1% during the 2nd quarter, now owning 37,900 shares worth approximately $2.04 million.
• Crane NXT reported $0.97 earnings per share for the last quarter, surpassing analysts' expectations of $0.92, with a total revenue of $404.4 million.
• The company's quarterly dividend of $0.17 reflects an annualized yield of 1.2%, with a dividend payout ratio of 25.95%.

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 54.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,900 shares of the company's stock after acquiring an additional 13,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.07% of Crane NXT worth $2,042,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in shares of Crane NXT in the 4th quarter worth approximately $26,000. UMB Bank n.a. boosted its position in shares of Crane NXT by 87.2% in the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after purchasing an additional 327 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Crane NXT by 120.3% in the 1st quarter. Jones Financial Companies Lllp now owns 716 shares of the company's stock worth $37,000 after purchasing an additional 391 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Crane NXT by 46.0% in the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Crane NXT in the 1st quarter worth approximately $44,000. 77.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a "buy" rating and issued a $85.00 price target on shares of Crane NXT in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Up 0.2%

CXT stock traded up $0.12 during midday trading on Monday, hitting $56.59. The company's stock had a trading volume of 234,327 shares, compared to its average volume of 424,596. The company has a market cap of $3.25 billion, a PE ratio of 21.60 and a beta of 1.37. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.00. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The firm's 50-day moving average is $59.43 and its 200-day moving average is $54.49.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $404.40 million for the quarter, compared to analysts' expectations of $382.79 million. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. On average, equities research analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 1.2%. Crane NXT's dividend payout ratio is 25.95%.

Crane NXT Company 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.