Alliancebernstein L.P. Has $181.43 Million Stock Holdings in Crh Plc $CRH

Key Points

• Alliancebernstein L.P. has reduced its stake in CRH Plc by 31.9%, selling 967,443 shares, and now owns 2,062,404 shares valued at approximately $181.43 million.
• Vanguard Group Inc. significantly increased its position in CRH by 62.8% during the same period, acquiring over 24 million shares, bringing its total to 63,755,468 shares.
• CRH recently announced a quarterly dividend of $0.37 per share with a yield of 1.3%, set to be paid on September 24th, and reported earnings of $1.94 per share, missing the forecast.

Alliancebernstein L.P. decreased its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 31.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,062,404 shares of the construction company's stock after selling 967,443 shares during the quarter. Alliancebernstein L.P. owned 0.31% of CRH worth $181,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Orion Capital Management LLC purchased a new position in shares of CRH during the fourth quarter valued at $28,000. Heck Capital Advisors LLC purchased a new position in shares of CRH during the fourth quarter valued at $32,000. Park Square Financial Group LLC purchased a new position in shares of CRH during the fourth quarter valued at $32,000. Colonial Trust Co SC purchased a new position in shares of CRH during the fourth quarter valued at $37,000. Finally, GW&K Investment Management LLC grew its holdings in shares of CRH by 86.7% during 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 in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Price Performance

Shares of CRH traded up $0.37 on Wednesday, hitting $111.09. The company's stock had a trading volume of 1,141,524 shares, compared to its average volume of 5,424,504. The company has a market capitalization of $74.73 billion, a PE ratio of 23.22, a PEG ratio of 1.45 and a beta of 1.31. Crh Plc has a fifty-two week low of $76.75 and a fifty-two week high of $114.40. The company has a 50 day moving average price of $103.44 and a 200 day moving average price of $96.40.

CRH (NYSE:CRH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.12). The business had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.The firm's revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.88 earnings per share. On average, equities analysts forecast that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

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

Analyst Upgrades and Downgrades

CRH has been the topic of a number of research analyst reports. DA Davidson reiterated a "neutral" rating and set a $105.00 price target (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. assumed coverage on CRH in a research report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price target for the company. Vertical Research raised CRH to a "strong-buy" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $112.00 price objective (up from $108.00) on shares of CRH in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $114.64.

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.