Aberdeen Group plc Purchases 36,105 Shares of Crh Plc $CRH

Key Points

• Aberdeen Group plc increased its stake in CRH plc by 48.9%, acquiring an additional 36,105 shares, bringing its total holdings to 109,934 shares worth $10.13 million.
• CRH has received several upgrades from analysts, including a "strong-buy" rating from Vertical Research and an increased target price from Sanford C. Bernstein, now set at $130.00.
• The company recently announced a quarterly dividend of $0.37, representing an annual yield of 1.2% and highlighting a payout ratio of 23.22%.

Aberdeen Group plc lifted its position in shares of Crh Plc (NYSE:CRH - Free Report) by 48.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,934 shares of the construction company's stock after purchasing an additional 36,105 shares during the period. Aberdeen Group plc's holdings in CRH were worth $10,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Place Capital Corp grew its holdings in shares of CRH by 59.9% during the second quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock worth $29,000 after purchasing an additional 115 shares during the last quarter. GW&K Investment Management LLC raised its position in CRH by 86.7% during the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after purchasing an additional 208 shares during the last quarter. Ransom Advisory Ltd bought a new position in CRH during the 1st quarter worth $47,000. Deseret Mutual Benefit Administrators raised 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 during the last quarter. Finally, Wayfinding Financial LLC bought a new position in CRH during the 1st quarter worth $74,000. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRH has been the subject of several analyst reports. Vertical Research raised CRH to a "strong-buy" rating in a research report on Friday, August 1st. Sanford C. Bernstein raised their target price on CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of CRH in a research report on Wednesday, October 8th. Jefferies Financial Group raised CRH to a "strong-buy" rating in a research report on Monday, September 22nd. Finally, Truist Financial raised their target price on CRH from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $126.21.

CRH Trading Down 1.2%

CRH stock opened at $118.64 on Thursday. Crh Plc has a 1-year low of $76.75 and a 1-year high of $121.88. The firm has a market cap of $79.80 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32. The stock has a 50-day moving average price of $113.72 and a 200-day moving average price of $99.66.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm 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 firm earned $1.88 earnings per share. The business's quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Friday, August 22nd were given 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 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.

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