Andra AP fonden Invests $2.22 Million in Crh Plc $CRH

Key Points

• Andra AP fonden acquired a new $2.22 million stake in CRH, purchasing 20,711 shares during the second quarter. Institutional investors collectively own 62.5% of the construction materials company.
• CRH reported stronger-than-expected quarterly results, with EPS of $2.21 versus estimates of $2.02 and revenue of $10.78 billion, up 5.6% year over year.
• CRH pays a quarterly dividend of $0.39 per share, equivalent to a 1.8% yield, while analysts maintain a “Moderate Buy” consensus rating and a $138.77 average price target despite recent target reductions.

Andra AP fonden acquired a new stake in shares of Crh Plc (NYSE:CRH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,711 shares of the construction company's stock, valued at approximately $2,216,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new position in shares of CRH in the 2nd quarter worth $40,000. Sequoia Financial Advisors LLC lifted its holdings in CRH by 2.9% in the second quarter. Sequoia Financial Advisors LLC now owns 23,044 shares of the construction company's stock valued at $2,466,000 after acquiring an additional 659 shares during the period. National Pension Service lifted its holdings in CRH by 5.9% in the second quarter. National Pension Service now owns 2,020,187 shares of the construction company's stock valued at $216,160,000 after acquiring an additional 111,824 shares during the period. Engineers Gate Manager LP boosted its position in CRH by 1,838.4% in the second quarter. Engineers Gate Manager LP now owns 461,503 shares of the construction company's stock worth $49,381,000 after purchasing an additional 437,694 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of CRH by 20.4% during the 2nd quarter. NewEdge Advisors LLC now owns 23,243 shares of the construction company's stock valued at $2,487,000 after purchasing an additional 3,945 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Performance

CRH opened at $85.15 on Thursday. The stock has a market cap of $56.65 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.60 and a beta of 1.33. The firm's fifty day moving average is $95.19 and its 200 day moving average is $103.46. Crh Plc has a fifty-two week low of $85.05 and a fifty-two week high of $131.55.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.19. CRH had a return on equity of 15.76% and a net margin of 9.93%.The business had revenue of $10.78 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the prior year, the business posted $1.94 EPS. CRH's revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts predict that Crh Plc will post 5.9 earnings per share for the current year.

CRH Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 14th. CRH's dividend payout ratio (DPR) is 27.51%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Stephens reduced their price target on shares of CRH from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Truist Financial cut their target price on shares of CRH from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Wells Fargo & Company reduced their target price on shares of CRH from $132.00 to $107.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. Weiss Ratings downgraded shares of CRH from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, September 16th. Finally, UBS Group dropped their price target on shares of CRH from $147.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CRH currently has an average rating of "Moderate Buy" and a consensus price target of $138.77.

CRH Company Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.

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