Coronation Fund Managers Ltd. Sells 15,013 Shares of Crh Plc $CRH

Key Points

• Coronation Fund Managers Ltd. cut its CRH stake by 44% in the first quarter, selling 15,013 shares and leaving it with 19,103 shares valued at about $2.0 million.
• Other institutional investors were mostly adding to CRH, and institutions overall own 62.5% of the company’s stock.
• Analysts remain broadly positive on CRH: the stock has an average Buy rating with a $141.19 price target, while the company recently beat earnings and revenue estimates and continues to pay a quarterly dividend.

Coronation Fund Managers Ltd. lessened its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 44.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,103 shares of the construction company's stock after selling 15,013 shares during the quarter. Coronation Fund Managers Ltd.'s holdings in CRH were worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CRH. JFS Wealth Advisors LLC raised its holdings in CRH by 12.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 794 shares of the construction company's stock worth $99,000 after purchasing an additional 86 shares during the period. Waddell & Associates LLC grew its holdings in CRH by 3.8% during the fourth quarter. Waddell & Associates LLC now owns 2,352 shares of the construction company's stock valued at $294,000 after purchasing an additional 87 shares during the period. PDS Planning Inc increased its position in CRH by 2.3% in the fourth quarter. PDS Planning Inc now owns 4,000 shares of the construction company's stock worth $499,000 after buying an additional 89 shares in the last quarter. Harbor Investment Advisory LLC increased its position in CRH by 87.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 212 shares of the construction company's stock worth $26,000 after buying an additional 99 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of CRH by 6.1% in the fourth quarter. Larson Financial Group LLC now owns 1,778 shares of the construction company's stock worth $222,000 after buying an additional 102 shares during the period. Institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

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

CRH Stock Performance

CRH opened at $100.08 on Thursday. The stock has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 1.72 and a beta of 1.32. The company has a fifty day moving average of $105.67 and a 200 day moving average of $112.61. Crh Plc has a fifty-two week low of $93.58 and a fifty-two week high of $131.55.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.02. CRH had a net margin of 9.65% and a return on equity of 15.37%. The business 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% on a year-over-year basis. CRH has set its FY 2026 guidance at 5.600-6.050 EPS. On average, equities research analysts forecast that Crh Plc will post 5.96 earnings per share for the current year.

CRH Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, May 15th. CRH's dividend payout ratio is currently 28.89%.

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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