Crh Plc $CRH Shares Sold by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. reduced its stake in CRH Plc by 10.1%, selling 99,055 shares, leaving it with 881,341 shares valued at approximately $77.5 million.
• CRH reported earnings per share (EPS) of $1.94 for the latest quarter, missing the analyst consensus estimate of $2.06, while revenue increased by 5.7% year-over-year to $10.21 billion.
• The company recently announced a quarterly dividend of $0.37 per share, representing an annualized payout of $1.48 and a yield of 1.3%, with the payout ratio currently at 23.22%.

Clark Capital Management Group Inc. cut its position in shares of Crh Plc (NYSE:CRH - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 881,341 shares of the construction company's stock after selling 99,055 shares during the quarter. Clark Capital Management Group Inc. owned 0.13% of CRH worth $77,532,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRH. Orion Capital Management LLC acquired a new position in shares of CRH in the fourth quarter worth $28,000. Heck Capital Advisors LLC acquired a new position in shares of CRH in the fourth quarter worth $32,000. Park Square Financial Group LLC acquired a new position in shares of CRH in the fourth quarter worth $32,000. Colonial Trust Co SC acquired a new position in shares of CRH in the fourth quarter worth $37,000. Finally, GW&K Investment Management LLC raised its holdings 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 worth $39,000 after acquiring an additional 208 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Price Performance

CRH stock traded down $1.11 during trading on Tuesday, reaching $110.95. 1,376,746 shares of the stock traded hands, compared to its average volume of 5,442,724. The business's 50 day moving average price is $103.09 and its 200-day moving average price is $96.30. Crh Plc has a 52-week low of $76.75 and a 52-week high of $114.40. The firm has a market capitalization of $74.63 billion, a PE ratio of 23.21, a P/E/G ratio of 1.46 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. During the same period last year, the firm posted $1.88 EPS. CRH's revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CRH shares. JPMorgan Chase & Co. started coverage on CRH in a report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price target for the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $112.00 target price (up from $108.00) on shares of CRH in a research note on Friday, August 8th. Vertical Research upgraded CRH to a "strong-buy" rating in a research note on Friday, August 1st. DA Davidson reiterated a "neutral" rating and issued a $105.00 target price (down from $120.00) on shares of CRH in a research note on Thursday, July 10th. Finally, Sanford C. Bernstein began coverage on CRH in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price 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 company's stock. Based on data from MarketBeat, CRH has an average rating of "Buy" and a consensus price target of $114.64.

About CRH

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.