Crh Plc $CRH Holdings Reduced by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd reduced its CRH stake by 4% in the third quarter, selling 93,329 shares and retaining 2.25 million shares valued at approximately $186.3 million. Institutional investors own 62.5% of CRH.
• CRH reported quarterly EPS of $2.21 and revenue of $10.78 billion, exceeding analyst expectations, while revenue increased 5.6% year over year.
• CRH maintains a “Buy” consensus rating, with analysts’ average price target at $127.61 versus the reported share price of $81.98. The company also pays a quarterly dividend of $0.39 per share, representing a 1.9% yield.

Ninety One UK Ltd reduced its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,249,695 shares of the construction company's stock after selling 93,329 shares during the quarter. Ninety One UK Ltd owned 0.34% of CRH worth $186,275,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its stake in shares of CRH by 7.7% in the second quarter. QRG Capital Management Inc. now owns 196,860 shares of the construction company's stock valued at $21,064,000 after buying an additional 14,091 shares during the period. Handelsbanken Fonder AB grew its position in CRH by 13.0% during the second quarter. Handelsbanken Fonder AB now owns 332,198 shares of the construction company's stock worth $35,545,000 after buying an additional 38,141 shares in the last quarter. Lazard Asset Management LLC grew its position in CRH by 4.1% during the first quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company's stock worth $245,460,000 after buying an additional 93,106 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in CRH during the second quarter valued at about $2,229,000. Finally, Davis Rea LTD. increased its stake in CRH by 1,292.9% during the third quarter. Davis Rea LTD. now owns 70,135 shares of the construction company's stock valued at $5,807,000 after acquiring an additional 65,100 shares during the period. 62.50% of the stock is owned by institutional investors.

CRH Stock Performance

Shares of CRH stock traded up $2.78 during trading hours on Thursday, hitting $81.98. The company had a trading volume of 2,784,581 shares, compared to its average volume of 4,928,865. Crh Plc has a 12 month low of $78.62 and a 12 month high of $131.55. The firm's fifty day moving average is $89.87 and its 200 day moving average is $101.22. The firm has a market capitalization of $54.54 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.45 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last posted its earnings results on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.02 by $0.19. The business had revenue of $10.78 billion during the quarter, compared to the consensus estimate of $10.68 billion. CRH had a return on equity of 15.76% and a net margin of 9.93%. CRH's revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.94 EPS. On average, sell-side analysts expect that Crh Plc will post 5.83 EPS for the current fiscal year.

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.9%. CRH's dividend payout ratio (DPR) is presently 27.51%.

Analyst Ratings Changes

Several equities analysts have commented on CRH shares. DA Davidson began coverage on CRH in a report on Monday, August 24th. They issued a "buy" rating and a $137.00 price target for the company. Royal Bank Of Canada decreased their price objective on CRH from $165.00 to $135.00 and set an "outperform" rating on the stock in a report on Friday, October 9th. BNP Paribas Exane decreased their price objective on CRH from $157.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday, September 16th. Rothschild & Co Redburn lowered their price objective on CRH from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, October 1st. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of CRH in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $127.61.

About CRH

CRH plc is a global building materials company headquartered in Ireland. Formerly known as Cement Roadstone Holdings, the company was formed in 1970 through the merger of Cement Limited and Roadstone Limited. CRH provides materials, products and services used in residential, commercial and infrastructure construction.

Its portfolio includes aggregates, asphalt, ready-mixed concrete, cement, architectural products, precast concrete, paving and construction accessories. The company serves customers across the construction value chain, including contractors, distributors, homebuilders and infrastructure developers.

CRH operates primarily in North America and Europe, with businesses spanning the United States, Canada and multiple European markets.

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