KLP Kapitalforvaltning AS Takes $588,000 Position in Crane NXT, Co. (NYSE:CXT)

KLP Kapitalforvaltning AS acquired a new stake in Crane NXT, Co. (NYSE:CXT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,100 shares of the company’s stock, valued at approximately $588,000.

Other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Crane NXT during the 3rd quarter worth approximately $32,000. Fifth Third Bancorp raised its stake in Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after buying an additional 276 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Crane NXT by 985.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock valued at $95,000 after buying an additional 1,488 shares during the period. Cascade Financial Partners LLC bought a new stake in Crane NXT during the fourth quarter valued at $202,000. Finally, Oak Thistle LLC acquired a new stake in Crane NXT during the 4th quarter worth about $203,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

Shares of NYSE CXT opened at $52.13 on Thursday. The stock’s 50-day simple moving average is $57.40 and its two-hundred day simple moving average is $58.00. Crane NXT, Co. has a twelve month low of $50.23 and a twelve month high of $67.01. The firm has a market capitalization of $2.98 billion, a P/E ratio of 16.34 and a beta of 1.32. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. As a group, equities analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were given a dividend of $0.17 per share. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. Crane NXT’s dividend payout ratio is presently 21.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CXT shares. Northland Capmk lowered shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target on the stock. in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Crane NXT has a consensus rating of “Moderate Buy” and an average price target of $83.33.

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.