AGF Management Ltd. Acquires 2,017,484 Shares of Crh Plc (NYSE:CRH)

Key Points

• AGF Management Ltd. has increased its stake in CRH Plc by 195.0%, now holding over 3 million shares valued at approximately $268 million, making it the 11th largest position in their portfolio.
• Vanguard Group Inc. also significantly increased its holdings in CRH by 62.8%, owning approximately 63.8 million shares worth about $5.6 billion.
• The firm recently declared a quarterly dividend of $0.37 per share, representing an annualized dividend yield of 1.4%.

AGF Management Ltd. lifted its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 195.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,052,011 shares of the construction company's stock after purchasing an additional 2,017,484 shares during the period. CRH makes up about 1.4% of AGF Management Ltd.'s investment portfolio, making the stock its 11th biggest position. AGF Management Ltd. owned approximately 0.45% of CRH worth $268,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of CRH during the fourth quarter worth approximately $28,000. Park Square Financial Group LLC acquired a new position in CRH in the fourth quarter valued at approximately $32,000. Heck Capital Advisors LLC acquired a new position in CRH in the fourth quarter valued at approximately $32,000. Colonial Trust Co SC acquired a new position in CRH in the fourth quarter valued at approximately $37,000. Finally, GW&K Investment Management LLC lifted its holdings in CRH by 86.7% in the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock valued at $39,000 after buying an additional 208 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Stock Performance

NYSE:CRH traded up $4.73 during trading hours on Tuesday, hitting $112.15. The stock had a trading volume of 7,540,199 shares, compared to its average volume of 4,542,755. The business's 50 day moving average is $94.92 and its 200-day moving average is $95.07. Crh Plc has a one year low of $76.75 and a one year high of $112.19. The company has a market cap of $75.77 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 1.38 and a beta of 1.26.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data 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). CRH had a return on equity of 15.68% and a net margin of 9.09%. The company had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the prior year, the company earned $1.88 EPS. The firm's revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. CRH's dividend payout ratio is currently 23.22%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRH. DA Davidson restated a "neutral" rating and issued a $105.00 price objective (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Sanford C. Bernstein began coverage on shares of CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price objective on the stock. Morgan Stanley restated an "overweight" rating on shares of CRH in a report on Friday. Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 price objective (up from $108.00) on shares of CRH in a report on Friday. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, CRH has an average rating of "Buy" and a consensus target price of $113.18.

About CRH

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.