Conestoga Capital Advisors LLC Purchases New Stake in Crane NXT, Co. (NYSE:CXT)

Conestoga Capital Advisors LLC acquired a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 541,340 shares of the company's stock, valued at approximately $31,517,000. Conestoga Capital Advisors LLC owned 0.95% of Crane NXT as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Congress Asset Management Co. grew its stake in Crane NXT by 18.3% during the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company's stock valued at $41,672,000 after acquiring an additional 114,707 shares in the last quarter. Potrero Capital Research LLC acquired a new position in Crane NXT in the 3rd quarter valued at $5,734,000. ArrowMark Colorado Holdings LLC acquired a new position in shares of Crane NXT during the 3rd quarter worth about $5,712,000. Geode Capital Management LLC increased its position in Crane NXT by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,000,796 shares of the company's stock worth $56,157,000 after buying an additional 60,468 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Crane NXT by 437.3% during the third quarter. Jane Street Group LLC now owns 67,092 shares of the company's stock worth $3,764,000 after buying an additional 54,606 shares during the last quarter. Institutional investors own 77.49% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CXT. Baird R W raised Crane NXT to a "strong-buy" rating in a report on Thursday, October 17th. Robert W. Baird lifted their price objective on Crane NXT from $77.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, November 8th.

Crane NXT Trading Down 1.2 %

CXT traded down $0.80 during midday trading on Thursday, reaching $64.06. 485,254 shares of the company were exchanged, compared to its average volume of 392,077. The stock has a market capitalization of $3.66 billion, a P/E ratio of 21.00 and a beta of 1.36. The stock's 50-day simple moving average is $61.40 and its 200 day simple moving average is $58.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. Crane NXT, Co. has a one year low of $52.89 and a one year high of $67.00.

Crane NXT (NYSE:CXT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. The firm had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. As a group, analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

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.