Crh Plc $CRH Shares Bought by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. significantly increased its stake in CRH Plc by 3,913.2% during the second quarter, acquiring an additional 276,197 shares, raising its total holdings to 283,255 shares valued at approximately $26 million.
• Analysts have set an average price target of $124.31 for CRH, with several firms issuing ratings of "overweight" or "strong-buy," indicating positive sentiment towards the company's future performance.
• CRH recently reported earnings of $1.94 per share, missing analyst expectations by $0.12, despite achieving a revenue of $10.21 billion for the quarter, reflecting a year-over-year growth of 5.7%.

QRG Capital Management Inc. grew its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 3,913.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,255 shares of the construction company's stock after acquiring an additional 276,197 shares during the period. QRG Capital Management Inc.'s holdings in CRH were worth $26,003,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. TFG Advisers LLC lifted its position in shares of CRH by 6.3% in the 2nd quarter. TFG Advisers LLC now owns 4,904 shares of the construction company's stock worth $450,000 after buying an additional 290 shares during the last quarter. ASR Vermogensbeheer N.V. lifted its position in shares of CRH by 56.2% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 20,691 shares of the construction company's stock worth $1,899,000 after buying an additional 7,444 shares during the last quarter. Ninety One UK Ltd lifted its position in shares of CRH by 13.1% in the 2nd quarter. Ninety One UK Ltd now owns 3,143,490 shares of the construction company's stock worth $288,572,000 after buying an additional 364,319 shares during the last quarter. PBMares Wealth Management LLC bought a new position in shares of CRH in the 2nd quarter worth about $202,000. Finally, Truist Financial Corp lifted its position in shares of CRH by 9.5% in the 2nd quarter. Truist Financial Corp now owns 221,187 shares of the construction company's stock worth $20,305,000 after buying an additional 19,123 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRH has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of CRH in a research report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price target on the stock. Morgan Stanley restated an "overweight" rating on shares of CRH in a research report on Tuesday, September 2nd. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. UBS Group set a $152.00 price objective on shares of CRH in a research report on Wednesday. Finally, Truist Financial lifted their price objective on shares of CRH from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $124.31.

CRH Stock Down 0.9%

Shares of NYSE:CRH opened at $120.01 on Friday. The company has a market cap of $80.72 billion, a PE ratio of 25.11, a P/E/G ratio of 1.75 and a beta of 1.32. The company's 50-day moving average price is $110.42 and its 200 day moving average price is $98.42. Crh Plc has a fifty-two week low of $76.75 and a fifty-two week high of $121.88.

CRH (NYSE:CRH - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing the consensus estimate 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 net margin of 9.09% and a return on equity of 15.68%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 EPS. As a group, equities analysts anticipate that Crh Plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.2%. CRH's dividend payout ratio (DPR) is presently 23.22%.

CRH 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.

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