Venturi Wealth Management LLC Has $95,000 Position in Crane NXT, Co. (NYSE:CXT)

Venturi Wealth Management LLC increased its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 985.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,639 shares of the company’s stock after purchasing an additional 1,488 shares during the period. Venturi Wealth Management LLC’s holdings in Crane NXT were worth $95,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Truist Financial Corp lifted its position in Crane NXT by 63.1% in the 4th quarter. Truist Financial Corp now owns 50,970 shares of the company’s stock valued at $2,967,000 after acquiring an additional 19,714 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Crane NXT by 9.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 37,186 shares of the company’s stock valued at $2,165,000 after purchasing an additional 3,151 shares in the last quarter. Secured Retirement Advisors LLC bought a new stake in shares of Crane NXT in the fourth quarter valued at about $888,000. Principal Securities Inc. boosted its position in shares of Crane NXT by 699.2% during the fourth quarter. Principal Securities Inc. now owns 3,892 shares of the company’s stock worth $227,000 after buying an additional 3,405 shares during the period. Finally, Congress Asset Management Co. grew its holdings in shares of Crane NXT by 1.3% during the fourth quarter. Congress Asset Management Co. now owns 752,734 shares of the company’s stock worth $43,824,000 after buying an additional 9,921 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CXT. Northland Capmk downgraded Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities downgraded shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a research report on Tuesday, February 18th. Finally, Robert W. Baird boosted their price target on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Crane NXT has a consensus rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT Trading Down 1.9 %

Shares of NYSE:CXT opened at $58.15 on Monday. Crane NXT, Co. has a 52-week low of $52.89 and a 52-week high of $67.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The company has a market capitalization of $3.33 billion, a P/E ratio of 18.23 and a beta of 1.36. The company has a 50-day simple moving average of $60.94 and a 200 day simple moving average of $58.64.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Sell-side analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be given a $0.17 dividend. The ex-dividend date is Friday, February 28th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. Crane NXT’s dividend payout ratio is presently 20.06%.

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.