Ninety One SA PTY Ltd Reduces Holdings in Crh Plc $CRH

Ninety One SA PTY Ltd reduced its holdings in shares of Crh Plc (NYSE:CRH) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,259 shares of the construction company’s stock after selling 225 shares during the quarter. Ninety One SA PTY Ltd’s holdings in CRH were worth $5,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Park Place Capital Corp grew its position in shares of CRH by 59.9% in the second quarter. Park Place Capital Corp now owns 307 shares of the construction company’s stock valued at $29,000 after purchasing an additional 115 shares during the last quarter. GW&K Investment Management LLC raised its holdings in shares of CRH by 86.7% in the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company’s stock worth $39,000 after acquiring an additional 208 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in CRH during the 1st quarter worth about $47,000. Deseret Mutual Benefit Administrators increased its position in CRH by 44.6% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 730 shares of the construction company’s stock worth $64,000 after purchasing an additional 225 shares in the last quarter. Finally, Bruce G. Allen Investments LLC increased its position in CRH by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 774 shares of the construction company’s stock worth $68,000 after purchasing an additional 315 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRH shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $112.00 price target (up from $108.00) on shares of CRH in a research note on Friday, August 8th. Jefferies Financial Group raised shares of CRH to a “strong-buy” rating in a research note on Monday, September 22nd. DA Davidson reiterated a “neutral” rating and issued a $105.00 price target (down from $120.00) on shares of CRH in a report on Thursday, July 10th. JPMorgan Chase & Co. started coverage on CRH in a research report on Tuesday, August 26th. They issued an “overweight” rating and a $130.00 price objective for the company. Finally, Bank of America began coverage on CRH in a research report on Friday, September 26th. They issued a “buy” rating and a $128.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $117.00.

CRH Trading Up 4.6%

NYSE CRH opened at $119.84 on Wednesday. The company’s fifty day simple moving average is $109.08 and its 200-day simple moving average is $97.94. Crh Plc has a 52 week low of $76.75 and a 52 week high of $121.66. The stock has a market cap of $80.61 billion, a P/E ratio of 25.07, a PEG ratio of 1.66 and a beta of 1.31.

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 the consensus estimate of $2.06 by ($0.12). The firm had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $1.88 EPS. On average, research analysts expect that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

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

CRH 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.