Alphinity Investment Management Pty Ltd Purchases 137,048 Shares of Crh Plc $CRH

Key Points

• Alphinity Investment Management Pty Ltd increased its stake in CRH by 3.3% (adding 137,048 shares) to 4,337,447 shares, representing about 0.65% of CRH and valued at $541.3 million, making CRH its fifth-largest holding.
• CRH missed quarterly estimates (EPS $1.52 vs. $2.20 expected; revenue $9.42B vs. $11.15B expected) though revenue rose 6.2% year-over-year, and the company increased its quarterly dividend to $0.39 ($1.56 annual, 1.3% yield). Analysts maintain a consensus " Moderate Buy " with an average price target of $139.54.

Alphinity Investment Management Pty Ltd grew its position in Crh Plc (NYSE:CRH - Free Report) by 3.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,337,447 shares of the construction company's stock after purchasing an additional 137,048 shares during the period. CRH comprises approximately 5.5% of Alphinity Investment Management Pty Ltd's holdings, making the stock its 5th biggest holding. Alphinity Investment Management Pty Ltd owned about 0.65% of CRH worth $541,313,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of CRH by 24.7% in the third quarter. Principal Financial Group Inc. now owns 2,269,271 shares of the construction company's stock valued at $272,086,000 after buying an additional 448,860 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of CRH in the third quarter valued at about $4,491,000. Exane Asset Management raised its holdings in shares of CRH by 21.2% in the third quarter. Exane Asset Management now owns 663,774 shares of the construction company's stock valued at $80,735,000 after buying an additional 116,178 shares during the last quarter. Cibc World Market Inc. raised its holdings in shares of CRH by 36.2% in the third quarter. Cibc World Market Inc. now owns 56,390 shares of the construction company's stock valued at $6,761,000 after buying an additional 14,985 shares during the last quarter. Finally, Dynasty Wealth Management LLC raised its holdings in shares of CRH by 77.5% in the third quarter. Dynasty Wealth Management LLC now owns 34,077 shares of the construction company's stock valued at $4,086,000 after buying an additional 14,877 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Trading Down 1.0%

CRH stock opened at $117.33 on Wednesday. The firm has a market capitalization of $78.40 billion, a P/E ratio of 21.26, a PEG ratio of 2.07 and a beta of 1.35. Crh Plc has a 1 year low of $83.19 and a 1 year high of $131.55. The business has a 50-day moving average of $112.31 and a 200-day moving average of $117.92.

CRH (NYSE:CRH - Get Free Report) last posted its earnings results on Thursday, February 19th. The construction company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.68). CRH had a return on equity of 15.98% and a net margin of 10.02%.The company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $11.15 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. CRH's quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Crh Plc will post 5.97 EPS for the current fiscal year.

CRH Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Friday, March 6th were given a $0.39 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.56 annualized dividend and a dividend yield of 1.3%. This is a boost from CRH's previous quarterly dividend of $0.37. CRH's payout ratio is presently 28.26%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on CRH from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. Wells Fargo & Company boosted their price objective on CRH from $133.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, February 20th. BNP Paribas Exane raised CRH to a "strong-buy" rating in a report on Friday, January 23rd. Citigroup boosted their price objective on CRH from $142.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 8th. Finally, DA Davidson set a $120.00 price objective on CRH in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $139.54.

CRH 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.

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