52,319 Shares of Crh Plc $CRH Bought by Eagle Rock Investment Company LLC

Key Points

• Eagle Rock Investment Company initiated a CRH position by purchasing 52,319 shares worth approximately $4.33 million in the third quarter. Institutional ownership remains substantial at 62.5%, with several other firms also increasing their holdings.
• Analysts maintain a broadly positive outlook, with one Strong Buy, 18 Buy, and one Hold rating. The consensus rating is Buy, with an average price target of $126.50 versus CRH’s reported share price of $85.99.
• CRH exceeded quarterly expectations, reporting EPS of $2.21 versus the $2.02 consensus and revenue of $10.78 billion, up 5.6% year over year. The company also declared a quarterly dividend of $0.39 per share, representing a 1.8% annualized yield.

Eagle Rock Investment Company LLC acquired a new stake in Crh Plc (NYSE:CRH - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,319 shares of the construction company's stock, valued at approximately $4,332,000.

Other institutional investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its holdings in shares of CRH by 781.0% during the third quarter. Crossmark Global Holdings Inc. now owns 122,948 shares of the construction company's stock worth $10,180,000 after purchasing an additional 108,993 shares during the period. Physician Wealth Advisors Inc. boosted its position in CRH by 42.3% in the third quarter. Physician Wealth Advisors Inc. now owns 582 shares of the construction company's stock valued at $48,000 after buying an additional 173 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in CRH by 28.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 22,957 shares of the construction company's stock worth $1,901,000 after buying an additional 5,059 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in CRH by 164.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 52,016 shares of the construction company's stock worth $4,307,000 after buying an additional 32,319 shares during the period. Finally, Net Worth Advisory Group increased its holdings in CRH by 24.2% in the 3rd quarter. Net Worth Advisory Group now owns 3,273 shares of the construction company's stock worth $267,000 after buying an additional 638 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CRH. Deutsche Bank Aktiengesellschaft set a $118.00 price target on shares of CRH in a research report on Friday, October 9th. Morgan Stanley initiated coverage on shares of CRH in a report on Friday, September 11th. They issued an "overweight" rating and a $139.00 price objective on the stock. Truist Financial cut their price objective on shares of CRH from $130.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, October 5th. UBS Group cut their price objective on shares of CRH from $147.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, September 22nd. Finally, Barclays reduced their target price on shares of CRH from $131.00 to $110.00 and set an "overweight" rating for the company in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, CRH has an average rating of "Buy" and a consensus target price of $126.50.

CRH Stock Performance

CRH opened at $85.99 on Thursday. The company has a fifty day moving average of $88.31 and a two-hundred day moving average of $100.52. The stock has a market capitalization of $57.21 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.54 and a beta of 1.31. Crh Plc has a fifty-two week low of $78.62 and a fifty-two week high of $131.55.

CRH (NYSE:CRH - Get Free Report) last posted its earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the company posted $1.94 EPS. The company's revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Crh Plc will post 5.83 earnings per share for the current year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th were given a dividend of $0.39 per share. The ex-dividend date was Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 1.8%. CRH's dividend payout ratio is currently 27.51%.

CRH Company Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its activities include the production and distribution of aggregates, asphalt, ready-mixed concrete, cement and other construction materials, as well as value-added products such as precast concrete, architectural products and site-development solutions.

The company serves customers across North America and Europe, including contractors, construction companies, infrastructure developers, distributors and public-sector organizations.

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