Connor Clark & Lunn Investment Management Ltd. Purchases 63,936 Shares of Crane NXT, Co. (NYSE:CXT)

Connor Clark & Lunn Investment Management Ltd. raised its position in Crane NXT, Co. (NYSE:CXT) by 58.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,113 shares of the company’s stock after purchasing an additional 63,936 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of Crane NXT worth $8,949,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of Crane NXT by 185.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 180,409 shares of the company’s stock valued at $10,503,000 after buying an additional 117,207 shares during the period. Renaissance Technologies LLC increased its stake in shares of Crane NXT by 319.7% in the fourth quarter. Renaissance Technologies LLC now owns 31,900 shares of the company’s stock valued at $1,857,000 after buying an additional 24,300 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Crane NXT in the fourth quarter valued at about $2,580,000. Covestor Ltd increased its stake in shares of Crane NXT by 38.6% in the fourth quarter. Covestor Ltd now owns 739 shares of the company’s stock valued at $43,000 after buying an additional 206 shares during the period. Finally, Townsquare Capital LLC increased its stake in shares of Crane NXT by 14.3% in the fourth quarter. Townsquare Capital LLC now owns 37,723 shares of the company’s stock valued at $2,196,000 after buying an additional 4,709 shares during the period. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Trading Down 1.8%

Shares of Crane NXT stock opened at $59.51 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20. Crane NXT, Co. has a 52 week low of $41.54 and a 52 week high of $67.00. The stock has a 50 day moving average price of $56.60 and a two-hundred day moving average price of $54.35. The stock has a market capitalization of $3.42 billion, a PE ratio of 22.71 and a beta of 1.33.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. The firm had revenue of $404.40 million during the quarter, compared to analysts’ expectations of $382.79 million. As a group, equities analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Crane NXT’s dividend payout ratio (DPR) is 25.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CXT shares. UBS Group decreased their target price on Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. DA Davidson decreased their target price on Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.75.

About Crane NXT

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.