Amundi Has $689.01 Million Stake in Crh Plc $CRH

Key Points

• Amundi increased its stake in CRH plc by 11.8%, purchasing an additional 843,806 shares, bringing its total ownership to 7,979,264 shares valued at approximately $689 million.
• CRH reported quarterly earnings of $1.94 per share, falling short of analyst estimates, and revealed a 9.09% net margin and a 15.68% return on equity.
• The company announced a quarterly dividend of $0.37, with an annualized dividend yield of 1.3%, which will be paid on September 24th.

Amundi grew its stake in Crh Plc (NYSE:CRH - Free Report) by 11.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,979,264 shares of the construction company's stock after acquiring an additional 843,806 shares during the period. Amundi owned 1.18% of CRH worth $689,009,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of CRH by 62.8% in the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock valued at $5,608,567,000 after acquiring an additional 24,591,538 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of CRH by 43.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after acquiring an additional 3,108,416 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in CRH by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 8,830,489 shares of the construction company's stock worth $776,818,000 after purchasing an additional 221,038 shares during the period. Boston Partners grew its holdings in CRH by 5.9% during the first quarter. Boston Partners now owns 8,822,801 shares of the construction company's stock worth $775,349,000 after purchasing an additional 493,796 shares during the period. Finally, Nuveen LLC bought a new position in CRH during the first quarter worth about $597,888,000. Institutional investors own 62.50% of the company's stock.

CRH Trading Up 0.6%

CRH stock traded up $0.63 during mid-day trading on Friday, hitting $112.24. 3,599,695 shares of the company were exchanged, compared to its average volume of 4,118,219. The business has a 50 day simple moving average of $102.68 and a 200-day simple moving average of $96.33. The stock has a market capitalization of $75.50 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. Crh Plc has a 1-year low of $76.75 and a 1-year high of $114.40.

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). The company had revenue of $10.21 billion for 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 company's revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $1.88 earnings per share. Equities research analysts expect that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRH shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $112.00 price target (up previously from $108.00) on shares of CRH in a report on Friday, August 8th. Vertical Research upgraded CRH to a "strong-buy" rating in a report on Friday, August 1st. Morgan Stanley reiterated an "overweight" rating on shares of CRH in a report on Tuesday. 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. Finally, JPMorgan Chase & Co. started coverage on CRH in a report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $114.64.

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.