Envestnet Asset Management Inc. Cuts Position in Crh Plc $CRH

Envestnet Asset Management Inc. cut its stake in Crh Plc (NYSE:CRH) by 5.2% in the 2nd quarter, Holdings Channel reports. The fund owned 1,008,330 shares of the construction company’s stock after selling 55,870 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CRH were worth $92,356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRH. GAMMA Investing LLC grew its position in CRH by 27.4% in the first quarter. GAMMA Investing LLC now owns 1,919 shares of the construction company’s stock worth $169,000 after acquiring an additional 413 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in CRH by 44.6% during the first quarter. Deseret Mutual Benefit Administrators now owns 730 shares of the construction company’s stock valued at $64,000 after buying an additional 225 shares during the period. Alta Advisers Ltd boosted its position in CRH by 57.6% during the first quarter. Alta Advisers Ltd now owns 3,558 shares of the construction company’s stock valued at $313,000 after buying an additional 1,300 shares during the period. Summit Trail Advisors LLC boosted its position in CRH by 119.1% during the first quarter. Summit Trail Advisors LLC now owns 4,904 shares of the construction company’s stock valued at $433,000 after buying an additional 2,666 shares during the period. Finally, DAVENPORT & Co LLC boosted its position in CRH by 21.4% during the first quarter. DAVENPORT & Co LLC now owns 55,515 shares of the construction company’s stock valued at $4,884,000 after buying an additional 9,771 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. DA Davidson restated a “neutral” rating and set a $105.00 price target (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Jefferies Financial Group upgraded shares of CRH to a “strong-buy” rating in a research report on Monday, September 22nd. Sanford C. Bernstein upped their price target on shares of CRH from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, September 11th. Royal Bank Of Canada upped their price target on shares of CRH from $112.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, Truist Financial upped their price objective on shares of CRH from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, CRH has a consensus rating of “Buy” and a consensus target price of $127.71.

CRH Trading Down 1.3%

Shares of NYSE:CRH opened at $118.41 on Thursday. The company has a market cap of $79.65 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32. The company has a 50-day moving average price of $115.26 and a 200-day moving average price of $102.19. Crh Plc has a 12 month low of $76.75 and a 12 month high of $121.99.

CRH (NYSE:CRH) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%.The company had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the previous year, the company earned $1.88 earnings per share. CRH’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts forecast that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Friday, August 22nd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 22nd. CRH’s dividend payout ratio is presently 23.22%.

CRH Company Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.