Bank of Nova Scotia Invests $1.26 Million in Crane NXT, Co. $CXT

Bank of Nova Scotia acquired a new stake in shares of Crane NXT, Co. (NYSE:CXT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 31,104 shares of the company’s stock, valued at approximately $1,263,000.

Several other institutional investors have also modified their holdings of CXT. Dimensional Fund Advisors LP grew its position in shares of Crane NXT by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,930,800 shares of the company’s stock valued at $78,366,000 after purchasing an additional 214,857 shares during the period. Alliancebernstein L.P. raised its holdings in 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 buying an additional 1,701,361 shares during the period. Victory Capital Management Inc. raised its holdings in Crane NXT by 1.6% during the 4th 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 during the period. Channing Capital Management LLC lifted its stake in Crane NXT by 632.9% in the fourth quarter. Channing Capital Management LLC now owns 1,571,769 shares of the company’s stock valued at $73,983,000 after buying an additional 1,357,312 shares in the last quarter. Finally, State Street Corp lifted its stake in Crane NXT by 1.6% in the fourth quarter. State Street Corp now owns 1,565,292 shares of the company’s stock valued at $73,678,000 after buying an additional 24,831 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Down 4.8%

Shares of Crane NXT stock opened at $51.92 on Thursday. The business’s 50 day simple moving average is $46.08 and its 200 day simple moving average is $46.41. Crane NXT, Co. has a 52-week low of $35.71 and a 52-week high of $69.00. The firm has a market cap of $2.99 billion, a PE ratio of 23.18 and a beta of 1.10. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.33.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, May 6th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Crane NXT had a return on equity of 19.59% and a net margin of 7.57%.The firm had revenue of $387.70 million for the quarter, compared to analysts’ expectations of $378.63 million. During the same quarter in the previous year, the business posted $0.54 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Crane NXT has set its FY 2026 guidance at 4.100-4.400 EPS. On average, analysts predict that Crane NXT, Co. will post 4.23 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Sunday, May 31st were issued a $0.18 dividend. The ex-dividend date was Friday, May 29th. 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 32.14%.

Analyst Ratings Changes

CXT has been the subject of several research analyst reports. Northland Securities upgraded shares of Crane NXT from a “market perform” rating to an “outperform” rating and set a $52.00 price target for the company in a report on Friday, May 15th. Oppenheimer dropped their price objective on shares of Crane NXT from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, April 15th. Robert W. Baird set a $67.00 price objective on shares of Crane NXT in a research report on Friday, May 8th. Weiss Ratings lowered shares of Crane NXT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Finally, Zacks Research raised shares of 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 issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Crane NXT presently has an average rating of “Moderate Buy” and an average target price of $65.40.

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.