Select Equity Group L.P. Sells 648,453 Shares of Crh Plc $CRH

Key Points

• Select Equity Group L.P. has reduced its position in CRH Plc by 5.9%, now holding approximately 10.37 million shares, which constitutes 3.9% of its investment portfolio.
• CRH recently reported a quarterly earnings per share (EPS) of $1.94, missing the estimate of $2.06, with revenue of $10.21 billion, slightly below the expected $10.27 billion.
• Analysts maintain a consensus rating of Buy for CRH, with a target price of around $114.64, indicating continued confidence in the company's future performance.

Select Equity Group L.P. trimmed its position in Crh Plc (NYSE:CRH - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,368,970 shares of the construction company's stock after selling 648,453 shares during the period. CRH comprises about 3.9% of Select Equity Group L.P.'s portfolio, making the stock its 3rd largest holding. Select Equity Group L.P. owned approximately 1.53% of CRH worth $912,158,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Panoramic Capital LLC raised its holdings in shares of CRH by 86.4% during the 1st quarter. Panoramic Capital LLC now owns 110,000 shares of the construction company's stock worth $9,677,000 after acquiring an additional 50,998 shares during the period. New England Asset Management Inc. increased its position in shares of CRH by 0.7% during the first quarter. New England Asset Management Inc. now owns 64,152 shares of the construction company's stock valued at $5,643,000 after acquiring an additional 442 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of CRH by 130.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 745,783 shares of the construction company's stock valued at $65,607,000 after acquiring an additional 422,027 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of CRH by 158.5% during the first quarter. NewEdge Advisors LLC now owns 8,670 shares of the construction company's stock valued at $763,000 after acquiring an additional 5,316 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CRH by 58,695.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,830,994 shares of the construction company's stock valued at $249,043,000 after acquiring an additional 2,826,179 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRH has been the subject of a number of analyst reports. DA Davidson reissued a "neutral" rating and set a $105.00 price objective (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Royal Bank Of Canada restated an "outperform" rating and set a $112.00 price target (up previously from $108.00) on shares of CRH in a research note on Friday, August 8th. JPMorgan Chase & Co. assumed 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. Sanford C. Bernstein raised their price objective on shares of CRH from $115.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Morgan Stanley restated an "overweight" rating on shares of CRH in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, CRH has a consensus rating of "Buy" and a consensus target price of $116.00.

CRH Price Performance

NYSE:CRH traded up $3.18 during mid-day trading on Thursday, reaching $114.44. The company's stock had a trading volume of 3,263,154 shares, compared to its average volume of 5,424,630. The company's fifty day simple moving average is $103.77 and its two-hundred day simple moving average is $96.50. Crh Plc has a twelve month low of $76.75 and a twelve month high of $114.50. The stock has a market cap of $76.98 billion, a P/E ratio of 23.94, a P/E/G ratio of 1.44 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last issued 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 return on equity of 15.68% and a net margin of 9.09%.The business had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. During the same period in the previous year, the business posted $1.88 earnings per share. The firm's quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts expect that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

The company also recently disclosed 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. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 22nd. CRH's payout ratio 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.