Crh Plc $CRH Shares Purchased by Exane Asset Management

Key Points

• Exane Asset Management increased its stake in CRH Plc by 142.2% during the second quarter, now owning approximately 21.1% of the company, valued at over $50 million.
• CRH reported a miss in quarterly earnings with earnings per share of $1.94, falling short of the $2.06 consensus estimate, despite a 5.7% revenue increase compared to the previous year.
• The company recently declared a quarterly dividend of $0.37, with an annualized dividend yield of 1.3% and a payout ratio of 23.22%.

Exane Asset Management boosted its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 142.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 547,596 shares of the construction company's stock after purchasing an additional 321,509 shares during the quarter. CRH makes up approximately 21.1% of Exane Asset Management's holdings, making the stock its largest holding. Exane Asset Management owned about 0.08% of CRH worth $50,249,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Stockman Wealth Management Inc. grew its position in shares of CRH by 2.5% during the second quarter. Stockman Wealth Management Inc. now owns 126,703 shares of the construction company's stock worth $11,631,000 after buying an additional 3,058 shares in the last quarter. Mariner Investment Group LLC bought a new position in CRH during the 2nd quarter valued at $275,000. Signaturefd LLC grew its holdings in CRH by 3.2% during the 2nd quarter. Signaturefd LLC now owns 18,076 shares of the construction company's stock worth $1,659,000 after acquiring an additional 560 shares in the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of CRH in the 2nd quarter worth about $421,000. Finally, Eagle Global Advisors LLC raised its stake in shares of CRH by 0.4% in the 2nd quarter. Eagle Global Advisors LLC now owns 100,165 shares of the construction company's stock valued at $9,195,000 after purchasing an additional 420 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Price Performance

Shares of NYSE CRH opened at $113.64 on Monday. The firm has a market capitalization of $76.44 billion, a PE ratio of 23.77, a P/E/G ratio of 1.47 and a beta of 1.31. Crh Plc has a 1-year low of $76.75 and a 1-year high of $116.36. The business's fifty day moving average price is $108.19 and its two-hundred day moving average price is $97.66.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $10.27 billion. During the same period last year, the firm posted $1.88 EPS. The business's revenue was up 5.7% compared to the same quarter last year. Equities research analysts expect that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd were paid a $0.37 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. CRH's dividend payout ratio (DPR) is presently 23.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CRH shares. Bank of America initiated coverage on CRH in a research note on Friday. They issued a "buy" rating and a $128.00 price target for the company. Jefferies Financial Group upgraded CRH to a "strong-buy" rating in a research report on Monday, September 22nd. DA Davidson reiterated a "neutral" rating and issued a $105.00 price target (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Royal Bank Of Canada restated an "outperform" rating and set a $112.00 price objective (up from $108.00) on shares of CRH in a research note on Friday, August 8th. Finally, Sanford C. Bernstein lifted their price objective on shares of CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $117.00.

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.

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