Congress Asset Management Co. Grows Position in Crane NXT, Co. (NYSE:CXT)

Congress Asset Management Co. grew its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 742,813 shares of the company's stock after buying an additional 114,707 shares during the period. Congress Asset Management Co. owned 1.30% of Crane NXT worth $41,672,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Crane NXT during the 2nd quarter valued at $748,000. Sei Investments Co. lifted its position in shares of Crane NXT by 17.9% during the 1st quarter. Sei Investments Co. now owns 140,668 shares of the company's stock valued at $8,708,000 after buying an additional 21,360 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Crane NXT by 90.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 80,328 shares of the company's stock valued at $4,934,000 after buying an additional 38,076 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Crane NXT by 294.8% during the 2nd quarter. Mackenzie Financial Corp now owns 36,423 shares of the company's stock valued at $2,237,000 after buying an additional 27,197 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of Crane NXT by 40.0% during the 1st quarter. Capital International Investors now owns 653,052 shares of the company's stock valued at $40,424,000 after buying an additional 186,437 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company's stock.

Crane NXT Price Performance

NYSE CXT traded down $1.34 during trading on Thursday, reaching $54.27. The company's stock had a trading volume of 613,226 shares, compared to its average volume of 345,108. The stock has a market capitalization of $3.10 billion, a PE ratio of 17.27 and a beta of 1.32. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. The firm has a fifty day moving average of $56.56 and a 200 day moving average of $59.00. Crane NXT, Co. has a one year low of $48.42 and a one year high of $64.80.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. The business had revenue of $370.60 million for the quarter, compared to analyst estimates of $367.08 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. Analysts expect that Crane NXT, Co. will post 4.28 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were paid a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. Crane NXT's dividend payout ratio is currently 20.19%.

Wall Street Analyst Weigh In

CXT has been the topic of a number of analyst reports. DA Davidson reiterated a "buy" rating and set a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th. Baird R W upgraded Crane NXT to a "strong-buy" rating in a research note on Thursday, October 17th. Northland Securities decreased their price objective on Crane NXT from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. Finally, Robert W. Baird initiated coverage on Crane NXT in a research note on Thursday, October 17th. They set an "outperform" rating and a $77.00 price objective on the stock.

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.