QRG Capital Management Inc. Trims Stock Position in Crh Plc $CRH

QRG Capital Management Inc. trimmed its holdings in shares of Crh Plc (NYSE:CRH) by 28.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 203,101 shares of the construction company’s stock after selling 80,154 shares during the quarter. QRG Capital Management Inc.’s holdings in CRH were worth $24,352,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of CRH in the 2nd quarter worth approximately $1,007,932,000. Eleva Capital SAS acquired a new position in CRH during the second quarter worth $250,562,000. Massachusetts Financial Services Co. MA boosted its position in shares of CRH by 24.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,803,346 shares of the construction company’s stock worth $1,175,347,000 after buying an additional 2,499,558 shares during the period. Marshall Wace LLP raised its holdings in shares of CRH by 45.3% in the 2nd quarter. Marshall Wace LLP now owns 6,031,903 shares of the construction company’s stock valued at $553,729,000 after buying an additional 1,881,550 shares during the period. Finally, Baupost Group LLC MA lifted its position in shares of CRH by 42.0% during the second quarter. Baupost Group LLC MA now owns 3,825,395 shares of the construction company’s stock worth $351,171,000 after purchasing an additional 1,131,000 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Up 0.4%

Shares of NYSE:CRH opened at $123.08 on Friday. The company has a market capitalization of $82.50 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.80 and a beta of 1.34. The stock’s fifty day simple moving average is $121.71 and its 200-day simple moving average is $113.58. Crh Plc has a 52-week low of $76.75 and a 52-week high of $131.55.

CRH (NYSE:CRH) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.27. CRH had a net margin of 9.30% and a return on equity of 16.25%. The company had revenue of $11.07 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the company earned $1.97 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. On average, sell-side analysts anticipate that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Friday, November 21st were given a dividend of $0.37 per share. 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, November 21st. CRH’s payout ratio is 22.11%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRH. Truist Financial increased their price objective on CRH from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. DA Davidson raised their price target on CRH from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Barclays boosted their price objective on shares of CRH from $110.00 to $131.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Bank of America assumed coverage on CRH in a research report on Friday, September 26th. They set a “buy” rating and a $128.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on CRH from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $136.20.

About CRH

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.