Thornburg Investment Management Inc. Invests $9.92 Million in Crane NXT, Co. $CXT

Thornburg Investment Management Inc. purchased a new stake in shares of Crane NXT, Co. (NYSE:CXT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 147,954 shares of the company’s stock, valued at approximately $9,923,000. Thornburg Investment Management Inc. owned approximately 0.26% of Crane NXT at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CXT. AlphaQuest LLC acquired a new position in shares of Crane NXT in the 2nd quarter valued at about $25,000. Smartleaf Asset Management LLC grew its position in Crane NXT by 141.6% during the third quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Quent Capital LLC acquired a new position in Crane NXT in the 3rd quarter valued at approximately $28,000. Heartwood Wealth Advisors LLC acquired a new position in Crane NXT in the 3rd quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC lifted its position in Crane NXT by 4,080.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock worth $34,000 after buying an additional 612 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Stock Performance

Shares of NYSE CXT opened at $50.94 on Thursday. The business’s 50-day simple moving average is $50.63 and its 200-day simple moving average is $57.31. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 1.50. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $69.00. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 20.29 and a beta of 1.18.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The firm had revenue of $476.90 million during the quarter, compared to analysts’ expectations of $450.53 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. As a group, equities research analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Saturday, February 28th will be issued a $0.18 dividend. This is a boost from Crane NXT’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, February 27th. This represents a $0.72 annualized dividend and a yield of 1.4%. Crane NXT’s payout ratio is 27.09%.

Analyst Ratings Changes

Several research firms have recently commented on CXT. UBS Group set a $58.00 price target on shares of Crane NXT in a report on Friday, February 13th. Robert W. Baird set a $73.00 target price on Crane NXT in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. Zacks Research raised Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, DA Davidson restated a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.60.

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