Crane NXT, Co. $CXT Stock: CenterBook Partners LP Grows Position

CenterBook Partners LP increased its stake in Crane NXT, Co. (NYSE:CXT) by 44.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,112 shares of the company’s stock after acquiring an additional 8,995 shares during the period. CenterBook Partners LP’s holdings in Crane NXT were worth $1,371,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Crane NXT during the 2nd quarter worth approximately $329,797,000. Bank of New York Mellon Corp purchased a new position in Crane NXT in the 2nd quarter worth approximately $23,160,000. Bank of America Corp DE purchased a new position in Crane NXT in the 2nd quarter worth approximately $20,900,000. Ancora Advisors LLC bought a new stake in Crane NXT in the second quarter valued at approximately $20,102,000. Finally, Neumeier Poma Investment Counsel LLC bought a new stake in Crane NXT in the second quarter valued at approximately $19,212,882. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Stock Up 3.6%

NYSE CXT opened at $59.67 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.42 and a quick ratio of 1.07. The stock has a market capitalization of $3.43 billion, a PE ratio of 27.00 and a beta of 1.03. Crane NXT, Co. has a 1 year low of $35.71 and a 1 year high of $63.57. The business’s 50-day moving average is $52.19 and its 200 day moving average is $48.16.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $497.10 million for the quarter, compared to the consensus estimate of $495.00 million. Crane NXT had a return on equity of 19.72% and a net margin of 6.91%. Crane NXT’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 EPS. Sell-side analysts forecast that Crane NXT, Co. will post 4.32 earnings per share for the current year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Monday, November 30th will be issued a $0.18 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.72 annualized dividend and a yield of 1.2%. Crane NXT’s dividend payout ratio (DPR) is 32.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CXT. Northland Securities set a $65.00 price objective on Crane NXT in a research note on Monday, August 10th. DA Davidson reiterated a “buy” rating and set a $85.00 price target on shares of Crane NXT in a report on Friday, September 18th. Weiss Ratings upgraded shares of Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Wall Street Zen cut shares of Crane NXT from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Jefferies Financial Group started coverage on shares of Crane NXT in a research report on Tuesday, September 22nd. They set a “buy” rating and a $60.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.83.

About Crane NXT