SouthState Bank Corp Grows Stock Holdings in Crh Plc $CRH

SouthState Bank Corp grew its holdings in Crh Plc (NYSE:CRH) by 20,243.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,971 shares of the construction company’s stock after acquiring an additional 21,863 shares during the period. SouthState Bank Corp’s holdings in CRH were worth $2,634,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CRH. Vanguard Group Inc. grew its position in CRH by 1.0% in the second quarter. Vanguard Group Inc. now owns 64,405,066 shares of the construction company’s stock worth $5,912,385,000 after acquiring an additional 649,598 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of CRH by 24.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,803,346 shares of the construction company’s stock worth $1,175,347,000 after purchasing an additional 2,499,558 shares during the period. Norges Bank bought a new position in shares of CRH during the 2nd quarter valued at approximately $1,007,932,000. Bank of New York Mellon Corp raised its holdings in CRH by 6.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,788,282 shares of the construction company’s stock valued at $1,173,615,000 after buying an additional 603,082 shares during the period. Finally, Boston Partners lifted its position in CRH by 9.4% in the second quarter. Boston Partners now owns 9,654,828 shares of the construction company’s stock worth $888,810,000 after buying an additional 832,027 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Stock Performance

Shares of NYSE CRH opened at $121.69 on Friday. Crh Plc has a 52-week low of $76.75 and a 52-week high of $131.55. The firm has a market capitalization of $81.56 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 1.80 and a beta of 1.33. The stock has a 50 day moving average price of $124.55 and a 200 day moving average price of $116.33.

CRH (NYSE:CRH) last issued its earnings results on Wednesday, November 5th. The construction company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.27. CRH had a return on equity of 16.25% and a net margin of 9.30%.The business had revenue of $11.07 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the company posted $1.97 EPS. CRH’s revenue was up 5.3% on a year-over-year basis. Analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

Wall Street Analyst Weigh In

CRH has been the subject of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of CRH in a research report on Monday, December 1st. UBS Group upped their price target on shares of CRH from $138.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Longbow Research assumed coverage on shares of CRH in a research note on Tuesday, December 16th. They issued a “buy” rating and a $160.00 price objective for the company. Citigroup upped their target price on CRH from $142.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada dropped their price objective on CRH from $152.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, CRH presently has a consensus rating of “Moderate Buy” and an average target price of $135.87.

CRH Company Profile

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.