Norges Bank Acquires Shares of 638,561 Crane NXT, Co. $CXT

Norges Bank acquired a new stake in Crane NXT, Co. (NYSE:CXT) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 638,561 shares of the company’s stock, valued at approximately $30,057,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CXT. Jones Financial Companies Lllp lifted its position in Crane NXT by 120.3% in the first quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $37,000 after purchasing an additional 391 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Crane NXT by 23.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 177,810 shares of the company’s stock valued at $9,139,000 after purchasing an additional 33,336 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Crane NXT by 89.0% during the first quarter. Jane Street Group LLC now owns 52,113 shares of the company’s stock valued at $2,679,000 after acquiring an additional 24,540 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Crane NXT by 24.0% during the second quarter. Prudential Financial Inc. now owns 5,514 shares of the company’s stock valued at $297,000 after acquiring an additional 1,069 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Crane NXT during the second quarter valued at approximately $511,000. Institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings downgraded Crane NXT from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. UBS Group set a $58.00 target price on Crane NXT in a report on Friday, February 13th. DA Davidson reaffirmed a “buy” rating and issued a $85.00 price target on shares of Crane NXT in a research note on Tuesday, February 17th. Zacks Research raised Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Northland Securities raised Crane NXT from a “market perform” rating to an “outperform” rating and set a $52.00 price target for the company in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.40.

Crane NXT Price Performance

NYSE CXT opened at $38.23 on Wednesday. Crane NXT, Co. has a one year low of $35.71 and a one year high of $69.00. The stock has a 50-day moving average of $41.73 and a 200 day moving average of $47.11. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 17.06 and a beta of 1.15. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.33.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Crane NXT had a return on equity of 19.59% and a net margin of 7.57%.The company had revenue of $387.70 million during the quarter, compared to the consensus estimate of $378.63 million. During the same period last year, the company earned $0.54 EPS. Crane NXT’s revenue for the quarter 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 forecast that Crane NXT, Co. will post 4.22 EPS for the current year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Sunday, May 31st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, May 29th. Crane NXT’s dividend payout ratio (DPR) is presently 32.14%.

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