Crh Plc $CRH Position Trimmed by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management LLC reduced its stake in CRH Plc by 28.2% during the first quarter, now holding 106,162 shares worth approximately $9.39 million.
• Several hedge funds adjusted their holdings in CRH, with OMERS ADMINISTRATION Corp increasing its stake by 426.6%, now owning 25,136 shares valued at $2.21 million.
• CRH recently announced a quarterly dividend of $0.37 per share, which will be paid on September 24th, reflecting an annualized yield of 1.3%.

Evergreen Capital Management LLC trimmed its stake in Crh Plc (NYSE:CRH - Free Report) by 28.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,162 shares of the construction company's stock after selling 41,676 shares during the quarter. Evergreen Capital Management LLC's holdings in CRH were worth $9,390,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CRH. Vanguard Group Inc. grew its holdings in CRH by 62.8% in the first quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock valued at $5,608,567,000 after purchasing an additional 24,591,538 shares during the period. Nuveen LLC purchased a new stake in CRH in the first quarter valued at approximately $597,888,000. Massachusetts Financial Services Co. MA grew its holdings in CRH by 43.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after purchasing an additional 3,108,416 shares during the period. AGF Management Ltd. grew its holdings in CRH by 195.0% in the first quarter. AGF Management Ltd. now owns 3,052,011 shares of the construction company's stock valued at $268,485,000 after purchasing an additional 2,017,484 shares during the period. Finally, Deutsche Bank AG grew its stake in CRH by 72.2% during the fourth quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company's stock worth $436,472,000 after buying an additional 1,978,225 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CRH shares. The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research note on Tuesday, May 6th. JPMorgan Chase & Co. started coverage on shares of CRH in a research note on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price objective for the company. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research note on Friday, August 1st. Royal Bank Of Canada reiterated 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 started coverage on shares of CRH in a research note on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $114.64.

CRH Stock Down 0.3%

Shares of NYSE CRH traded down $0.30 during trading on Monday, reaching $112.89. 3,532,118 shares of the stock were exchanged, compared to its average volume of 4,712,883. The business's 50-day moving average price is $100.51 and its 200 day moving average price is $96.05. Crh Plc has a twelve month low of $76.75 and a twelve month high of $114.40. The company has a market capitalization of $75.94 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last posted 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). The company had revenue of $10.21 billion during 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 company's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 earnings per share. As a group, sell-side analysts expect that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH's dividend 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.