Hancock Whitney Corp boosted its stake in Crane Co. (NYSE:CR) by 49.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,291 shares of the conglomerate’s stock after acquiring an additional 45,723 shares during the period. Hancock Whitney Corp owned about 0.23% of Crane worth $11,618,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its position in Crane by 17.7% during the fourth quarter. BlackRock Inc. now owns 7,150,304 shares of the conglomerate’s stock worth $516,111,000 after buying an additional 1,073,105 shares during the period. Norges Bank acquired a new stake in shares of Crane in the fourth quarter worth $44,701,000. Millennium Management LLC acquired a new stake in shares of Crane in the fourth quarter worth $7,367,000. Two Sigma Investments LP increased its position in shares of Crane by 343.5% in the fourth quarter. Two Sigma Investments LP now owns 126,387 shares of the conglomerate’s stock worth $9,123,000 after acquiring an additional 97,892 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Crane by 2,308.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 95,265 shares of the conglomerate’s stock worth $8,061,000 after acquiring an additional 91,310 shares in the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.
CR has been the subject of several recent research reports. Desjardins reissued a “buy” rating on shares of Crane in a research report on Thursday, March 7th. Zacks Investment Research lowered shares of Crane from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. UBS Group raised their price target on shares of Crane from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Buckingham Research raised their price target on shares of Crane from $101.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $93.02.
CR traded up $0.30 during trading hours on Monday, reaching $83.74. 360,500 shares of the stock traded hands, compared to its average volume of 296,857. The firm has a market cap of $5.00 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 2.08 and a beta of 1.36. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Crane Co. has a fifty-two week low of $67.18 and a fifty-two week high of $100.14. The business’s fifty day moving average price is $81.29.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 29th. The conglomerate reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.06. The company had revenue of $831.70 million during the quarter, compared to analyst estimates of $792.39 million. Crane had a net margin of 10.34% and a return on equity of 24.49%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $1.31 EPS. Analysts predict that Crane Co. will post 6.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 31st were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, May 30th. Crane’s dividend payout ratio is currently 26.04%.
Crane Company Profile
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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