Crane Co. (CR) Given Average Rating of “Buy” by Brokerages
Shares of Crane Co. (NYSE:CR) have been assigned an average rating of “Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $99.52.
A number of equities analysts have recently issued reports on CR shares. Seaport Global Securities reiterated a “buy” rating and set a $105.00 price objective on shares of Crane in a research note on Wednesday, January 30th. Stifel Nicolaus set a $100.00 price objective on shares of Crane and gave the company a “buy” rating in a research note on Tuesday, January 29th. UBS Group increased their price objective on shares of Crane from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Desjardins reiterated a “buy” rating on shares of Crane in a research note on Thursday, March 7th. Finally, Buckingham Research increased their price objective on shares of Crane from $101.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th.
A number of large investors have recently bought and sold shares of CR. BlackRock Inc. lifted its position in Crane by 17.7% during the fourth quarter. BlackRock Inc. now owns 7,150,304 shares of the conglomerate’s stock valued at $516,111,000 after acquiring an additional 1,073,105 shares during the last quarter. Norges Bank purchased a new stake in Crane during the fourth quarter valued at approximately $44,701,000. Vulcan Value Partners LLC lifted its position in Crane by 107,582.1% during the first quarter. Vulcan Value Partners LLC now owns 283,204 shares of the conglomerate’s stock valued at $23,965,000 after acquiring an additional 282,941 shares during the last quarter. Millennium Management LLC purchased a new stake in Crane during the fourth quarter valued at approximately $7,367,000. Finally, Two Sigma Investments LP lifted its position in Crane by 343.5% during the fourth quarter. Two Sigma Investments LP now owns 126,387 shares of the conglomerate’s stock valued at $9,123,000 after acquiring an additional 97,892 shares during the last quarter. 69.16% of the stock is owned by institutional investors.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, April 29th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. Crane had a net margin of 10.34% and a return on equity of 24.49%. The firm had revenue of $831.70 million for the quarter, compared to the consensus estimate of $792.39 million. During the same period last year, the firm earned $1.31 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts forecast that Crane will post 6.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 31st will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.56 dividend on an annualized basis and a yield of 1.86%. Crane’s payout ratio is 26.04%.
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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