Royce & Associates LP Boosts Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Key Points

• Royce & Associates LP increased its stake in Crane NXT by 3.8% in Q1, acquiring an additional 14,217 shares, bringing its total to approximately 390,638 shares valued at $20 million.
• Crane NXT's latest earnings report showed an EPS of $0.54, exceeding estimates of $0.51, with a 5.3% increase in quarterly revenue compared to the previous year.
• The company announced a $0.17 quarterly dividend, which results in an annual yield of 1.15% and a payout ratio of 23.37%.

Royce & Associates LP increased its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 390,638 shares of the company's stock after purchasing an additional 14,217 shares during the period. Royce & Associates LP owned 0.68% of Crane NXT worth $20,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Crane NXT during the first quarter worth $3,354,000. Financial Harvest LLC acquired a new position in Crane NXT in the first quarter valued at $139,000. Victory Capital Management Inc. boosted its stake in Crane NXT by 13.4% in the first quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company's stock valued at $70,312,000 after acquiring an additional 161,417 shares in the last quarter. MQS Management LLC acquired a new position in Crane NXT in the first quarter valued at $378,000. Finally, Isthmus Partners LLC acquired a new position in Crane NXT in the first quarter valued at $1,480,000. Institutional investors and hedge funds own 77.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. DA Davidson decreased their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 9th. UBS Group decreased their price objective on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.75.

Crane NXT Stock Performance

Shares of CXT traded up $0.43 during mid-day trading on Monday, hitting $59.88. 102,816 shares of the company's stock were exchanged, compared to its average volume of 422,815. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $67.00. The firm has a market capitalization of $3.44 billion, a P/E ratio of 20.58 and a beta of 1.29. The business's 50 day moving average is $55.44 and its two-hundred day moving average is $54.76. The company has a current ratio of 1.20, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. The business had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 annualized dividend and a yield of 1.14%. Crane NXT's dividend payout ratio is currently 23.37%.

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.