Victory Capital Management Inc. Has $70.24 Million Stake in Crane NXT, Co. (NYSE:CXT)

Victory Capital Management Inc. reduced its stake in Crane NXT, Co. (NYSE:CXT) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,206,514 shares of the company’s stock after selling 12,247 shares during the period. Victory Capital Management Inc.’s holdings in Crane NXT were worth $70,243,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in Crane NXT in the 3rd quarter worth approximately $32,000. Fifth Third Bancorp lifted its holdings in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after purchasing an additional 276 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Crane NXT by 985.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock worth $95,000 after purchasing an additional 1,488 shares during the last quarter. Quest Partners LLC acquired a new stake in Crane NXT in the 3rd quarter worth approximately $181,000. Finally, Oak Thistle LLC acquired a new stake in Crane NXT in the 4th quarter worth approximately $203,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Northland Capmk lowered Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Robert W. Baird boosted their target price on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, 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 report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.33.

Crane NXT Stock Performance

Shares of NYSE CXT opened at $53.43 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $60.54 and its two-hundred day moving average is $58.54. The company has a market cap of $3.06 billion, a P/E ratio of 16.75 and a beta of 1.32. Crane NXT, Co. has a 12 month low of $52.89 and a 12 month high of $67.00.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, topping 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%. On average, equities analysts expect that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

The company 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 dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.27%. Crane NXT’s payout ratio is currently 21.32%.

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.