Canada Pension Plan Investment Board Has $70.92 Million Holdings in Crh Plc $CRH

Key Points

• Canada Pension Plan Investment Board has reduced its stake in CRH Plc by 36.1%, selling 455,322 shares to hold approximately 806,195 shares, valued at around $70.9 million as of the latest SEC filing.
• Several hedge funds have taken new positions in CRH, with institutional investors now owning 62.50% of the company's stock, indicating increased interest from large investors.
• Analysts have varying ratings on CRH, with a consensus rating of "Buy" and an average price target of $114.64, reflecting positive sentiment despite a slight earnings miss in the latest quarterly report.

Canada Pension Plan Investment Board trimmed its stake in Crh Plc (NYSE:CRH - Free Report) by 36.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 806,195 shares of the construction company's stock after selling 455,322 shares during the period. Canada Pension Plan Investment Board owned about 0.12% of CRH worth $70,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of CRH during the 4th quarter worth about $28,000. Park Square Financial Group LLC bought a new stake in CRH during the fourth quarter worth about $32,000. Heck Capital Advisors LLC bought a new stake in CRH during the fourth quarter worth about $32,000. Colonial Trust Co SC acquired a new stake in shares of CRH during the fourth quarter worth approximately $37,000. Finally, GW&K Investment Management LLC raised its stake in shares of CRH by 86.7% in the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock valued at $39,000 after acquiring an additional 208 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRH has been the topic of a number of research analyst reports. Sanford C. Bernstein began coverage on CRH in a research report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price target on the stock. DA Davidson restated a "neutral" rating and set a $105.00 target price (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. Morgan Stanley restated an "overweight" rating on shares of CRH in a research note on Tuesday. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. started coverage on shares of CRH in a research report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, CRH has an average rating of "Buy" and a consensus target price of $114.64.

CRH Price Performance

Shares of CRH stock traded down $0.94 on Thursday, hitting $110.97. 1,899,851 shares of the company's stock traded hands, compared to its average volume of 5,478,034. The firm's 50-day moving average price is $101.82 and its two-hundred day moving average price is $96.30. The stock has a market capitalization of $74.64 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. Crh Plc has a one year low of $76.75 and a one year high of $114.40.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing analysts' consensus estimates 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 firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $1.88 earnings per share. On average, analysts forecast that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors 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 dividend payout ratio (DPR) is currently 23.22%.

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.