USA Financial Portformulas Corp Invests $325,000 in Crane Company (CR)
USA Financial Portformulas Corp acquired a new position in shares of Crane Company (NYSE:CR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,153 shares of the company’s stock, valued at approximately $325,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. LSV Asset Management increased its position in Crane Company by 25.9% in the third quarter. LSV Asset Management now owns 511,588 shares of the company’s stock worth $32,235,000 after buying an additional 105,100 shares during the period. Monarch Partners Asset Management LLC purchased a new position in Crane Company during the third quarter worth $9,984,000. UBS Asset Management Americas Inc. increased its position in Crane Company by 1.6% in the third quarter. UBS Asset Management Americas Inc. now owns 45,661 shares of the company’s stock worth $2,878,000 after buying an additional 697 shares during the period. Wells Fargo & Company MN increased its position in Crane Company by 16.8% in the third quarter. Wells Fargo & Company MN now owns 93,906 shares of the company’s stock worth $5,917,000 after buying an additional 13,525 shares during the period. Finally, Financial Engines Advisors L.L.C. increased its position in Crane Company by 13.4% in the third quarter. Financial Engines Advisors L.L.C. now owns 50,887 shares of the company’s stock worth $3,206,000 after buying an additional 6,018 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of Crane Company (NYSE:CR) traded up 1.00% during trading on Friday, reaching $73.80. The company’s stock had a trading volume of 179,895 shares. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 17.28 and a beta of 1.18. The firm’s 50-day moving average price is $74.11 and its 200-day moving average price is $66.14. Crane Company has a one year low of $41.68 and a one year high of $78.94.
Crane Company (NYSE:CR) last issued its quarterly earnings data on Monday, October 24th. The company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.06. Crane Company had a net margin of 9.17% and a return on equity of 20.59%. The business earned $694 million during the quarter, compared to analyst estimates of $666.89 million. During the same period last year, the business posted ($0.13) earnings per share. Crane Company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Crane Company will post $4.19 earnings per share for the current year.
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A number of brokerages have commented on CR. Stifel Nicolaus boosted their price objective on Crane Company from $69.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, December 5th. Zacks Investment Research raised Crane Company from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Tuesday, November 29th. Canaccord Genuity boosted their price objective on Crane Company from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, October 26th. Avondale Partners reissued a “market perform” rating on shares of Crane Company in a report on Wednesday, October 12th. Finally, Oppenheimer Holdings, Inc. began coverage on Crane Company in a report on Thursday, November 17th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.46.
In other news, VP A D. Pantaleoni sold 5,000 shares of Crane Company stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $74.29, for a total transaction of $371,450.00. Following the completion of the transaction, the vice president now directly owns 9,876 shares in the company, valued at $733,688.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Augustus I. Dupont sold 3,000 shares of Crane Company stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $68.29, for a total transaction of $204,870.00. Following the transaction, the vice president now owns 93,753 shares of the company’s stock, valued at $6,402,392.37. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
About Crane Company
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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