Crh Plc $CRH Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments boosted its stake in CRH by 680.6% in Q4, buying an additional 103,962 shares to hold 119,237 shares worth about $14.88 million; overall institutional ownership is ~62.5%.
• CRH missed Q4 estimates (EPS $1.52 vs. $2.20 expected; revenue $9.42B vs. $11.15B expected) despite 6.2% YoY revenue growth, yet analysts remain positive with a consensus "Moderate Buy" and a $139.54 target price.
• CRH raised its quarterly dividend to $0.39 (annualized $1.56), implying a ~1.3% yield and a dividend payout ratio of about 28.3%.

Mirae Asset Global Investments Co. Ltd. lifted its position in Crh Plc (NYSE:CRH - Free Report) by 680.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,237 shares of the construction company's stock after purchasing an additional 103,962 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in CRH were worth $14,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. PDS Planning Inc lifted its stake in shares of CRH by 2.3% in the 4th quarter. PDS Planning Inc now owns 4,000 shares of the construction company's stock valued at $499,000 after purchasing an additional 89 shares during the period. CWM LLC raised its position in CRH by 0.7% during the fourth quarter. CWM LLC now owns 46,027 shares of the construction company's stock worth $5,744,000 after acquiring an additional 318 shares during the period. KBC Group NV raised its position in CRH by 1.8% during the fourth quarter. KBC Group NV now owns 1,147,605 shares of the construction company's stock worth $143,221,000 after acquiring an additional 20,060 shares during the period. Foster Victor Wealth Advisors LLC raised its position in CRH by 19.9% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 2,742 shares of the construction company's stock worth $337,000 after acquiring an additional 456 shares during the period. Finally, MOKAN Wealth Management Inc. raised its position in CRH by 77.2% during the fourth quarter. MOKAN Wealth Management Inc. now owns 4,929 shares of the construction company's stock worth $615,000 after acquiring an additional 2,148 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on CRH shares. JPMorgan Chase & Co. upped their price objective on shares of CRH from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Citigroup upped their price objective on shares of CRH from $142.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 8th. UBS Group upped their price objective on shares of CRH from $138.00 to $147.00 and gave the stock a "buy" rating in a research report on Thursday, January 8th. Weiss Ratings restated a "buy (b-)" rating on shares of CRH in a research report on Monday, December 22nd. Finally, Wells Fargo & Company upped their price objective on shares of CRH from $133.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CRH has an average rating of "Moderate Buy" and a consensus target price of $139.54.

CRH Stock Up 2.5%

Shares of NYSE CRH opened at $117.17 on Friday. The firm has a 50-day simple moving average of $112.71 and a 200-day simple moving average of $117.97. The stock has a market capitalization of $78.30 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 2.00 and a beta of 1.35. Crh Plc has a 52 week low of $81.60 and a 52 week high of $131.55.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Thursday, February 19th. The construction company reported $1.52 EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($0.68). CRH had a net margin of 10.02% and a return on equity of 15.98%. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $11.15 billion. During the same quarter last year, the company earned $1.02 earnings per share. CRH's quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts expect that Crh Plc will post 5.47 EPS for the current year.

CRH Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Friday, March 6th were given a dividend of $0.39 per share. The ex-dividend date was Friday, March 6th. This is an increase from CRH's previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 1.3%. CRH's dividend payout ratio (DPR) is 28.26%.

CRH Company Profile

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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