Peregrine Capital Management LLC Reduces Stock Position in Crane NXT, Co. $CXT

Peregrine Capital Management LLC lessened its position in Crane NXT, Co. (NYSE:CXT) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,185 shares of the company’s stock after selling 9,545 shares during the period. Peregrine Capital Management LLC’s holdings in Crane NXT were worth $4,026,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new position in shares of Crane NXT during the third quarter valued at about $31,000. Camelot Portfolios LLC purchased a new stake in shares of Crane NXT during the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Crane NXT by 4,458.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 547 shares of the company’s stock worth $26,000 after purchasing an additional 535 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Crane NXT in the third quarter worth about $40,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Crane NXT by 4,080.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $34,000 after purchasing an additional 612 shares during the period. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

Shares of NYSE CXT opened at $52.67 on Friday. Crane NXT, Co. has a 1 year low of $35.71 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.33 and a quick ratio of 0.99. The company’s 50-day moving average is $42.73 and its 200 day moving average is $45.94. The stock has a market capitalization of $3.03 billion, a P/E ratio of 23.51 and a beta of 1.10.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Crane NXT had a net margin of 7.57% and a return on equity of 19.59%. The company had revenue of $387.70 million during the quarter, compared to the consensus estimate of $378.63 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Crane NXT’s revenue was up 17.4% on a year-over-year basis. Crane NXT has set its FY 2026 guidance at 4.100-4.400 EPS. On average, sell-side analysts expect that Crane NXT, Co. will post 4.22 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Sunday, May 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. Crane NXT’s dividend payout ratio is currently 32.14%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Oppenheimer lowered their price target on Crane NXT from $80.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, April 15th. Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings cut Crane NXT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Northland Securities upgraded Crane NXT from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a report on Friday, May 15th. Finally, Robert W. Baird set a $67.00 price target on Crane NXT in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Crane NXT presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.40.

About Crane NXT

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.