Connor Clark & Lunn Investment Management Ltd. Invests $10.81 Million 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 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 211,321 shares of the company’s stock, valued at approximately $10,811,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.37% of Crane NXT as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CXT. BlackRock Inc. acquired a new stake in Crane NXT during the 2nd quarter worth $329,797,000. Dimensional Fund Advisors LP raised its position in shares of Crane NXT by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,930,800 shares of the company’s stock valued at $78,366,000 after buying an additional 214,857 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Crane NXT by 2,449.9% in the second quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock valued at $95,446,000 after buying an additional 1,701,361 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Crane NXT by 1.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,661,619 shares of the company’s stock worth $78,212,000 after buying an additional 25,849 shares in the last quarter. Finally, Channing Capital Management LLC lifted its stake in shares of Crane NXT by 632.9% in the fourth quarter. Channing Capital Management LLC now owns 1,571,769 shares of the company’s stock worth $73,983,000 after buying an additional 1,357,312 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Crane NXT Trading Up 0.9%

Shares of CXT stock opened at $50.58 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 1.00. Crane NXT, Co. has a twelve month low of $35.71 and a twelve month high of $69.00. The company’s 50-day moving average price is $50.80 and its 200-day moving average price is $46.45. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 20.90 and a beta of 1.09.

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

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders 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 dividend yield of 1.4%. Crane NXT’s dividend payout ratio (DPR) is currently 29.75%.

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