Crh Plc $CRH Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. reduced its holdings in CRH Plc by 58.3%, selling over 808,000 shares, leaving them with approximately 578,870 shares valued at $50.9 million.
• Several analysts have raised their target prices for CRH, with a consensus target of $114.64 and a majority rating the stock as a Buy.
• CRH recently announced a quarterly dividend of $0.37 per share, with a scheduled payout date of September 24th, reflecting a 1.3% yield.

Panagora Asset Management Inc. lessened its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 58.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 578,870 shares of the construction company's stock after selling 808,264 shares during the quarter. Panagora Asset Management Inc. owned 0.09% of CRH worth $50,923,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diversify Advisory Services LLC grew its position in CRH by 5.0% in the first quarter. Diversify Advisory Services LLC now owns 2,572 shares of the construction company's stock valued at $240,000 after acquiring an additional 123 shares in the last quarter. Callan Family Office LLC grew its position in CRH by 4.4% in the first quarter. Callan Family Office LLC now owns 3,074 shares of the construction company's stock valued at $270,000 after acquiring an additional 129 shares in the last quarter. Yousif Capital Management LLC grew its position in CRH by 1.7% in the first quarter. Yousif Capital Management LLC now owns 8,196 shares of the construction company's stock valued at $721,000 after acquiring an additional 139 shares in the last quarter. Fifth Third Bancorp grew its position in CRH by 0.9% in the first quarter. Fifth Third Bancorp now owns 15,257 shares of the construction company's stock valued at $1,342,000 after acquiring an additional 140 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in CRH by 1.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 10,387 shares of the construction company's stock valued at $914,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

CRH has been the subject of several recent research reports. Sanford C. Bernstein started coverage on shares of CRH in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price objective for the company. JPMorgan Chase & Co. started coverage on CRH in a research report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 target price on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research report on Friday, August 8th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $105.00 target price (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $114.64.

CRH Stock Up 0.5%

CRH stock traded up $0.50 during trading on Wednesday, hitting $111.78. 2,369,148 shares of the company's stock traded hands, compared to its average volume of 5,499,639. Crh Plc has a 52 week low of $76.75 and a 52 week high of $114.40. The stock has a fifty day moving average price of $101.36 and a two-hundred day moving average price of $96.19. The stock has a market capitalization of $75.19 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share 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 business had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same quarter in the previous year, the firm earned $1.88 EPS. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities research analysts expect that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be given 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 (DPR) 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.