Crh Plc $CRH Shares Sold by Artemis Investment Management LLP

Key Points

• Artemis Investment Management reduced its CRH position by 16% in the third quarter, selling 14,434 shares and retaining 75,612 shares valued at approximately $6.26 million.
• CRH reported quarterly EPS of $2.21, exceeding the $2.02 consensus estimate, while revenue rose 5.6% year over year to $10.78 billion. The company also paid a quarterly dividend of $0.39 per share, equivalent to a 1.9% yield.
• CRH shares traded near $81.81, well below their 52-week high of $131.55, though analysts maintained a broadly positive outlook with a consensus “Buy” rating and a $134.19 price target.

Artemis Investment Management LLP trimmed its position in shares of Crh Plc (NYSE:CRH - Free Report) by 16.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,612 shares of the construction company's stock after selling 14,434 shares during the period. Artemis Investment Management LLP's holdings in CRH were worth $6,261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in shares of CRH by 2.5% during the fourth quarter. Royal Bank of Canada now owns 10,808,439 shares of the construction company's stock valued at $1,348,894,000 after buying an additional 262,175 shares during the last quarter. Amundi increased its position in CRH by 74.7% in the 1st quarter. Amundi now owns 5,965,814 shares of the construction company's stock valued at $627,126,000 after acquiring an additional 2,550,178 shares during the period. Bank of America Corp DE raised its stake in CRH by 3.8% during the 1st quarter. Bank of America Corp DE now owns 5,928,489 shares of the construction company's stock valued at $623,203,000 after acquiring an additional 216,822 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in CRH by 6.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,831,618 shares of the construction company's stock worth $507,784,000 after acquiring an additional 297,309 shares during the period. Finally, Aviva PLC grew its stake in shares of CRH by 11.3% in the fourth quarter. Aviva PLC now owns 2,938,710 shares of the construction company's stock worth $366,876,000 after purchasing an additional 298,453 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Trading Up 0.4%

NYSE CRH opened at $81.81 on Friday. Crh Plc has a 1 year low of $80.13 and a 1 year high of $131.55. The company has a market cap of $54.42 billion, a PE ratio of 14.43, a PEG ratio of 1.60 and a beta of 1.31. The stock's 50-day moving average price is $91.29 and its two-hundred day moving average price is $101.91.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business had revenue of $10.78 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The firm's quarterly revenue was up 5.6% on a year-over-year basis. Research analysts forecast that Crh Plc will post 5.9 EPS for the current fiscal year.

CRH Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 14th. CRH's dividend payout ratio is currently 27.51%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of CRH from $149.00 to $165.60 and gave the stock a "buy" rating in a research note on Friday, June 26th. Wells Fargo & Company lowered their price objective on shares of CRH from $107.00 to $106.00 and set an "overweight" rating on the stock in a research note on Monday. Truist Financial dropped their target price on CRH from $130.00 to $105.00 and set a "buy" rating on the stock in a report on Monday. Berenberg Bank set a $140.00 target price on CRH in a research report on Tuesday, September 8th. Finally, UBS Group decreased their price target on CRH from $147.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, CRH presently has an average rating of "Buy" and a consensus target price of $134.19.

CRH News Roundup

Here are the key news stories impacting CRH this week:

• Positive Sentiment: CRH agreed to acquire NCC Industry’s aggregates and asphalt operations in Denmark and Finland. The assets include asphalt plants, land- and marine-based aggregate sites, and high-quality reserves, expanding CRH’s infrastructure-materials footprint in the Nordic region. CRH to Acquire Aggregate Operations in Denmark and Finland
• Positive Sentiment: The transaction reinforces CRH’s acquisition-led growth plan and could provide additional exposure to construction and infrastructure spending in Denmark and Finland. Reports indicate an enterprise value of approximately SEK 8.2 billion; one report says Heidelberg Materials is also involved in the acquisition. CRH and Heidelberg Materials acquire NCC business
• Neutral Sentiment: The Nordic deal generated an initial positive response in some market coverage, but subsequent after-hours reports showed declines, suggesting investors may be assessing the acquisition’s price, integration risks and expected returns before assigning it a higher valuation. Does CRH’s Nordic Aggregates Deal Add More Fuel to Its Growth Plan?
• Negative Sentiment: Wells Fargo lowered its price target for CRH to $106. Although the revised target remains above the recent trading level, the reduction signals less optimistic near-term expectations and may limit buying enthusiasm. Wells Fargo cuts target for CRH stock

CRH Company Profile

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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