Quantbot Technologies LP Trims Stake in Crane NXT, Co. $CXT

Key Points

• Quantbot Technologies LP significantly reduced its stake in Crane NXT, Co. by 96.4% in the 1st quarter, leaving it with a position worth $55,000.
• Other institutional investors also increased their positions in Crane NXT, with GAMMA Investing LLC raising its stake by 5,320.8% to own 133,948 shares valued at $6,885,000.
• Crane NXT recently announced a quarterly dividend of $0.17 per share, resulting in an annualized dividend yield of 1.1%.

Quantbot Technologies LP lowered its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 96.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,063 shares of the company's stock after selling 28,657 shares during the period. Quantbot Technologies LP's holdings in Crane NXT were worth $55,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CXT. Wellington Management Group LLP increased its holdings in Crane NXT by 16.2% during the 1st quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company's stock valued at $188,584,000 after purchasing an additional 512,813 shares during the period. Victory Capital Management Inc. increased its holdings in Crane NXT by 13.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company's stock valued at $70,312,000 after purchasing an additional 161,417 shares during the period. Invesco Ltd. increased its holdings in Crane NXT by 4.0% during the 1st quarter. Invesco Ltd. now owns 1,064,749 shares of the company's stock valued at $54,728,000 after purchasing an additional 40,602 shares during the period. Silvercrest Asset Management Group LLC increased its holdings in Crane NXT by 95.6% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company's stock valued at $59,470,000 after purchasing an additional 499,290 shares during the period. Finally, Conestoga Capital Advisors LLC increased its holdings in Crane NXT by 83.5% during the 1st quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company's stock valued at $51,048,000 after purchasing an additional 451,814 shares during the period. Hedge funds and other institutional investors own 77.49% of the company's stock.

Crane NXT Stock Performance

Shares of NYSE CXT traded up $1.10 during midday trading on Wednesday, hitting $60.38. 253,406 shares of the stock traded hands, compared to its average volume of 423,668. The firm has a 50-day moving average of $58.48 and a two-hundred day moving average of $54.23. The firm has a market capitalization of $3.47 billion, a P/E ratio of 23.04 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.00.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm 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 analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT's dividend payout ratio is presently 25.95%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CXT shares. UBS Group reduced their target price on Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. DA Davidson reiterated a "buy" rating and set a $85.00 target price on shares of Crane NXT in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $73.75.

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.