Public Employees Retirement System of Ohio decreased its holdings in Crane Co. (NYSE:CR) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,695 shares of the conglomerate’s stock after selling 783 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Crane were worth $1,310,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in CR. Great Lakes Advisors LLC lifted its holdings in shares of Crane by 28.8% during the second quarter. Great Lakes Advisors LLC now owns 91,646 shares of the conglomerate’s stock valued at $7,647,000 after purchasing an additional 20,490 shares during the last quarter. Swiss National Bank lifted its stake in Crane by 2.7% in the 1st quarter. Swiss National Bank now owns 86,600 shares of the conglomerate’s stock worth $7,328,000 after acquiring an additional 2,300 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Crane by 48.1% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,340 shares of the conglomerate’s stock worth $367,000 after acquiring an additional 1,410 shares in the last quarter. Burney Co. purchased a new stake in Crane in the 1st quarter worth about $222,000. Finally, Dudley & Shanley Inc. lifted its stake in Crane by 26.8% in the 2nd quarter. Dudley & Shanley Inc. now owns 233,522 shares of the conglomerate’s stock worth $19,485,000 after acquiring an additional 49,420 shares in the last quarter. 69.22% of the stock is owned by institutional investors.
In other news, VP James A. Lavish sold 650 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $86.36, for a total transaction of $56,134.00. Following the completion of the transaction, the vice president now directly owns 16,359 shares of the company’s stock, valued at $1,412,763.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.39% of the company’s stock.
CR stock traded up $0.83 during mid-day trading on Friday, hitting $81.54. The stock had a trading volume of 985 shares, compared to its average volume of 222,859. The company has a current ratio of 2.17, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Crane Co. has a 1-year low of $67.18 and a 1-year high of $100.14. The company has a fifty day moving average of $77.75 and a 200 day moving average of $82.37. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 2.05 and a beta of 1.37.
Crane (NYSE:CR) last posted its earnings results on Monday, July 22nd. The conglomerate reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.03. The firm had revenue of $841.60 million for the quarter, compared to analyst estimates of $833.30 million. Crane had a return on equity of 24.24% and a net margin of 10.67%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. As a group, sell-side analysts expect that Crane Co. will post 6.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Saturday, August 31st were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, August 29th. Crane’s dividend payout ratio (DPR) is 26.04%.
Several brokerages recently issued reports on CR. ValuEngine downgraded Crane from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Buckingham Research increased their price objective on Crane from $97.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, DA Davidson increased their price objective on Crane from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $95.88.
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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