Schwab Charles Investment Management Inc. Sells 67,982 Shares of Crane Co. (CR)

Schwab Charles Investment Management Inc. reduced its stake in Crane Co. (NYSE:CR) by 16.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 347,227 shares of the conglomerate’s stock after selling 67,982 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Crane were worth $32,202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank boosted its position in Crane by 6.1% in the 4th quarter. Amalgamated Bank now owns 10,105 shares of the conglomerate’s stock valued at $902,000 after buying an additional 578 shares during the last quarter. M&T Bank Corp boosted its position in Crane by 22.0% in the 4th quarter. M&T Bank Corp now owns 4,695 shares of the conglomerate’s stock valued at $418,000 after buying an additional 846 shares during the last quarter. Bailard Inc. boosted its position in Crane by 2.0% in the 1st quarter. Bailard Inc. now owns 45,973 shares of the conglomerate’s stock valued at $4,264,000 after buying an additional 885 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Crane by 51.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock valued at $240,000 after buying an additional 917 shares during the last quarter. Finally, Synovus Financial Corp boosted its position in Crane by 18.3% in the 4th quarter. Synovus Financial Corp now owns 6,046 shares of the conglomerate’s stock valued at $539,000 after buying an additional 937 shares during the last quarter. Hedge funds and other institutional investors own 69.41% of the company’s stock.

Shares of Crane opened at $84.83 on Friday, Marketbeat reports. The company has a current ratio of 1.79, a quick ratio of 1.35 and a debt-to-equity ratio of 0.79. Crane Co. has a one year low of $71.23 and a one year high of $102.65. The stock has a market cap of $5.06 billion, a PE ratio of 17.71, a P/E/G ratio of 1.46 and a beta of 1.23.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, April 23rd. The conglomerate reported $1.31 EPS for the quarter, topping the consensus estimate of $1.27 by $0.04. Crane had a net margin of 6.09% and a return on equity of 21.08%. The business had revenue of $799.00 million for the quarter, compared to analysts’ expectations of $802.47 million. During the same quarter last year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. analysts anticipate that Crane Co. will post 5.63 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. Crane’s payout ratio is 30.91%.

A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Crane from a “buy” rating to a “hold” rating in a research report on Wednesday. DA Davidson set a $111.00 price objective on shares of Crane and gave the company a “buy” rating in a research report on Friday. ValuEngine cut shares of Crane from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Susquehanna Bancshares raised shares of Crane from a “neutral” rating to a “positive” rating and set a $104.00 price objective for the company in a research report on Wednesday, April 25th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Crane in a research report on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $106.00.

About Crane

Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including 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.

Want to see what other hedge funds are holding CR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crane Co. (NYSE:CR).

Institutional Ownership by Quarter for Crane (NYSE:CR)

Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply