Congress Wealth Management LLC DE Cuts Stake in Crane NXT, Co. (NYSE:CXT)

Congress Wealth Management LLC DE cut its holdings in Crane NXT, Co. (NYSE:CXT) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,429 shares of the company’s stock after selling 7,261 shares during the period. Congress Wealth Management LLC DE owned 0.19% of Crane NXT worth $6,313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CXT. Conestoga Capital Advisors LLC purchased a new position in shares of Crane NXT in the fourth quarter worth $31,517,000. Potrero Capital Research LLC purchased a new stake in Crane NXT in the 3rd quarter worth $5,734,000. ArrowMark Colorado Holdings LLC bought a new position in shares of Crane NXT during the 3rd quarter valued at about $5,712,000. Royce & Associates LP grew its position in shares of Crane NXT by 35.7% during the fourth quarter. Royce & Associates LP now owns 376,421 shares of the company’s stock valued at $21,915,000 after purchasing an additional 98,936 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Crane NXT by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock worth $345,303,000 after buying an additional 66,800 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Stock Down 1.6 %

NYSE:CXT opened at $52.98 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. Crane NXT, Co. has a 1-year low of $52.02 and a 1-year high of $67.01. The company has a 50-day moving average of $58.91 and a 200 day moving average of $58.21. The firm has a market cap of $3.03 billion, a PE ratio of 16.61 and a beta of 1.32.

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

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. Crane NXT’s payout ratio is presently 21.32%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Northland Capmk cut shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Northland Securities cut shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Crane NXT has an average rating of “Moderate Buy” and a consensus price target of $83.33.

Crane NXT Company 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.