LPL Financial LLC Acquires 9,617 Shares of Crane NXT, Co. $CXT

Key Points

• LPL Financial LLC increased its stake in Crane NXT, Co. by 18.9% in Q1, acquiring an additional 9,617 shares and owning 60,611 shares valued at approximately $3.1 million.
• Crane NXT reported a quarterly earnings per share (EPS) of $0.97, exceeding analysts' expectations, with a revenue of $404.4 million during the same period.
• The company announced a quarterly dividend of $0.17 per share, resulting in a 1.1% dividend yield based on its current payout ratio of 25.95%.

LPL Financial LLC raised its holdings in Crane NXT, Co. (NYSE:CXT - Free Report) by 18.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,611 shares of the company's stock after acquiring an additional 9,617 shares during the quarter. LPL Financial LLC owned about 0.11% of Crane NXT worth $3,115,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in Crane NXT by 46.0% in the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock valued at $42,000 after acquiring an additional 256 shares during the last quarter. GAMMA Investing LLC lifted its stake in Crane NXT by 5,320.8% in the first quarter. GAMMA Investing LLC now owns 133,948 shares of the company's stock valued at $6,885,000 after acquiring an additional 131,477 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Crane NXT by 46.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,543 shares of the company's stock valued at $381,000 after acquiring an additional 2,074 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Crane NXT by 185.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 180,409 shares of the company's stock valued at $10,503,000 after acquiring an additional 117,207 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Crane NXT by 87.2% in the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock valued at $36,000 after acquiring an additional 327 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CXT. UBS Group reduced their price objective on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. DA Davidson restated a "buy" rating and issued a $85.00 price objective on shares of Crane NXT in a research note on Monday. One equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Stock Performance

CXT stock traded down $0.0470 on Thursday, reaching $60.1530. 295,475 shares of the company were exchanged, compared to its average volume of 414,477. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.00. The stock's fifty day moving average price is $57.51 and its 200 day moving average price is $54.30. The firm has a market capitalization of $3.45 billion, a PE ratio of 22.96 and a beta of 1.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89.

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

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT's payout ratio is 25.95%.

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.