California State Teachers Retirement System Sells 25,627 Shares of Crh Plc $CRH

Key Points

• California State Teachers Retirement System reduced its CRH stake by 3.2%, selling 25,627 shares and retaining 776,790 shares worth approximately $81.7 million.
• Institutional ownership remains substantial at 62.5%, with Vanguard, State Street, and Geode among major investors that increased their positions in CRH.
• Analysts maintain a generally positive outlook, with CRH holding a consensus “Buy” rating and an average price target of $141.19. The stock opened at $99.67, while its latest quarterly revenue rose 9.1% year over year to $7.37 billion.

California State Teachers Retirement System lowered its position in Crh Plc (NYSE:CRH - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 776,790 shares of the construction company's stock after selling 25,627 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of CRH worth $81,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRH. Vanguard Group Inc. lifted its stake in CRH by 22.7% in the 4th quarter. Vanguard Group Inc. now owns 79,117,664 shares of the construction company's stock valued at $9,873,884,000 after purchasing an additional 14,623,673 shares during the last quarter. State Street Corp grew its holdings in CRH by 81.3% during the fourth quarter. State Street Corp now owns 24,895,205 shares of the construction company's stock worth $3,106,927,000 after purchasing an additional 11,167,189 shares during the period. Geode Capital Management LLC increased its position in CRH by 67.3% during the fourth quarter. Geode Capital Management LLC now owns 14,709,575 shares of the construction company's stock worth $1,827,252,000 after buying an additional 5,916,930 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in CRH by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 12,439,954 shares of the construction company's stock valued at $1,552,506,000 after buying an additional 78,769 shares during the period. Finally, Norges Bank bought a new stake in CRH in the fourth quarter valued at approximately $1,476,939,000. Institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on CRH. Sanford C. Bernstein reiterated an "outperform" rating on shares of CRH in a research note on Tuesday, June 23rd. Weiss Ratings downgraded CRH from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 18th. Morgan Stanley reaffirmed an "overweight" rating and set a $139.00 price objective on shares of CRH in a research report on Wednesday, April 15th. Wells Fargo & Company decreased their price objective on shares of CRH from $135.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. Finally, Jefferies Financial Group increased their price objective on shares of CRH from $149.00 to $165.60 and gave the company a "buy" rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, CRH currently has an average rating of "Buy" and a consensus price target of $141.19.

CRH Price Performance

CRH opened at $99.67 on Thursday. The business has a fifty day simple moving average of $105.46 and a 200 day simple moving average of $111.72. Crh Plc has a 1 year low of $93.58 and a 1 year high of $131.55. The company has a market capitalization of $66.60 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.78 and a beta of 1.32.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.02. CRH had a return on equity of 15.37% and a net margin of 9.65%.The firm had revenue of $7.37 billion for the quarter, compared to analysts' expectations of $7.07 billion. The business's revenue was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Crh Plc will post 5.96 earnings per share for the current fiscal year.

About CRH

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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