Neumeier Poma Investment Counsel LLC Acquires 136,060 Shares of Crane NXT, Co. $CXT

Neumeier Poma Investment Counsel LLC increased its holdings in Crane NXT, Co. (NYSE:CXT) by 54.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,536 shares of the company’s stock after buying an additional 136,060 shares during the period. Crane NXT accounts for 2.1% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its 25th largest position. Neumeier Poma Investment Counsel LLC’s holdings in Crane NXT were worth $25,925,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CXT. Vanguard Group Inc. increased its stake in Crane NXT by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,005,746 shares of the company’s stock worth $402,805,000 after acquiring an additional 64,523 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Crane NXT by 2,449.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock worth $95,446,000 after purchasing an additional 1,701,361 shares in the last quarter. State Street Corp increased its position in shares of Crane NXT by 0.7% in the second quarter. State Street Corp now owns 1,533,762 shares of the company’s stock worth $82,670,000 after purchasing an additional 9,959 shares during the period. Thrivent Financial for Lutherans raised its stake in Crane NXT by 7.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,256,296 shares of the company’s stock valued at $84,259,000 after purchasing an additional 89,049 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Crane NXT by 16.5% during the second quarter. Invesco Ltd. now owns 1,240,520 shares of the company’s stock worth $66,864,000 after purchasing an additional 175,771 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CXT. Robert W. Baird set a $73.00 target price on shares of Crane NXT in a report on Friday, February 13th. Zacks Research raised shares of Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, January 21st. UBS Group set a $58.00 target price on Crane NXT in a report on Friday, February 13th. Finally, Northland Securities set a $62.00 price target on Crane NXT in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Crane NXT presently has an average rating of “Moderate Buy” and a consensus target price of $71.60.

Crane NXT Price Performance

Crane NXT stock opened at $50.94 on Thursday. The company has a market capitalization of $2.92 billion, a PE ratio of 20.29 and a beta of 1.18. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $50.63 and a two-hundred day moving average price of $57.31. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $69.00.

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

Crane NXT Increases Dividend

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

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.