Crane NXT, Co. $CXT Stake Raised by LPL Financial LLC

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 grew its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 18.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,611 shares of the company's stock after acquiring an additional 9,617 shares during the period. LPL Financial LLC owned about 0.11% of Crane NXT worth $3,115,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of Crane NXT by 46.0% during 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of Crane NXT by 5,320.8% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Crane NXT by 46.4% during 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 in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Crane NXT by 185.4% during 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 in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Crane NXT by 87.2% during 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 in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group reduced their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. DA Davidson reaffirmed a "buy" rating and set a $85.00 price target on shares of Crane NXT in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.75.

Crane NXT Stock Performance

NYSE CXT traded down $0.4650 during trading hours on Wednesday, reaching $60.0850. The company's stock had a trading volume of 131,607 shares, compared to its average volume of 422,995. 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 business has a 50-day simple moving average of $57.32 and a 200 day simple moving average of $54.28. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.00. The stock has a market cap of $3.45 billion, a PE ratio of 22.92 and a beta of 1.33.

Crane NXT (NYSE:CXT - Get Free Report) last issued 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. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. The firm had revenue of $404.40 million for the quarter, compared to analysts' expectations of $382.79 million. Equities research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

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