Connor Clark & Lunn Investment Management Ltd. Takes Position in Crane NXT, Co. $CXT

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Crane NXT, Co. (NYSE:CXT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 211,321 shares of the company’s stock, valued at approximately $10,811,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC raised its holdings in Crane NXT by 6.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,472 shares of the company’s stock valued at $233,000 after buying an additional 206 shares during the period. California State Teachers Retirement System boosted its stake in Crane NXT by 0.6% during the second quarter. California State Teachers Retirement System now owns 44,954 shares of the company’s stock worth $2,423,000 after buying an additional 271 shares during the period. Madison Asset Management LLC boosted its stake in Crane NXT by 0.6% during the fourth quarter. Madison Asset Management LLC now owns 45,289 shares of the company’s stock worth $2,132,000 after buying an additional 290 shares during the period. Creative Planning increased its position in shares of Crane NXT by 2.9% during the third quarter. Creative Planning now owns 13,472 shares of the company’s stock valued at $904,000 after acquiring an additional 384 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its position in shares of Crane NXT by 7.7% during the fourth quarter. Kestra Advisory Services LLC now owns 5,407 shares of the company’s stock valued at $254,000 after acquiring an additional 386 shares during the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CXT. Weiss Ratings upgraded shares of Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Northland Securities set a $65.00 target price on shares of Crane NXT in a report on Monday, August 10th. Robert W. Baird set a $68.00 target price on Crane NXT in a research report on Friday, August 7th. Finally, Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.20.

Crane NXT Stock Up 0.9%

Shares of NYSE:CXT opened at $50.58 on Thursday. The firm has a market capitalization of $2.91 billion, a PE ratio of 20.90 and a beta of 1.09. Crane NXT, Co. has a 1 year low of $35.71 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.42 and a quick ratio of 1.07. The firm’s 50-day moving average is $50.80 and its two-hundred day moving average is $46.45.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. The business had revenue of $493.20 million during the quarter, compared to analyst estimates of $475.62 million. Crane NXT had a net margin of 7.78% and a return on equity of 19.87%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 earnings per share. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. Analysts predict that Crane NXT, Co. will post 4.27 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. Crane NXT’s dividend payout ratio is 29.75%.

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.