Crh Plc $CRH Shares Sold by SkyView Investment Advisors LLC

Key Points

• SkyView Investment Advisors cut its CRH position by 96.6% in the second quarter, selling 25,443 shares and retaining 900 shares valued at approximately $96,000. Institutional investors and hedge funds collectively own 62.5% of the company.
• Analysts maintain a consensus “Buy” rating on CRH, with a consensus price target of $139.57, although recent recommendations ranged from higher targets and buy ratings to Citigroup’s cautious downgrade.
• CRH exceeded quarterly expectations, reporting $2.21 in EPS and $10.78 billion in revenue, while declaring a quarterly dividend of $0.39 per share, equivalent to a 1.8% annualized yield.

SkyView Investment Advisors LLC reduced its position in shares of Crh Plc (NYSE:CRH - Free Report) by 96.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 900 shares of the construction company's stock after selling 25,443 shares during the quarter. SkyView Investment Advisors LLC's holdings in CRH were worth $96,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CRH. Waddell & Associates LLC raised its holdings in CRH by 3.8% in the 4th quarter. Waddell & Associates LLC now owns 2,352 shares of the construction company's stock worth $294,000 after purchasing an additional 87 shares during the period. Larson Financial Group LLC grew its holdings in CRH by 6.1% in the fourth quarter. Larson Financial Group LLC now owns 1,778 shares of the construction company's stock valued at $222,000 after purchasing an additional 102 shares during the period. Bell Investment Advisors Inc increased its position in shares of CRH by 51.2% in the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company's stock valued at $32,000 after buying an additional 103 shares in the last quarter. Acorn Wealth Advisors LLC increased its position in shares of CRH by 4.3% in the second quarter. Acorn Wealth Advisors LLC now owns 2,658 shares of the construction company's stock valued at $284,000 after buying an additional 109 shares in the last quarter. Finally, Optas LLC raised its stake in shares of CRH by 4.5% during the 1st quarter. Optas LLC now owns 2,695 shares of the construction company's stock worth $283,000 after buying an additional 117 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRH has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their target price on CRH from $149.00 to $165.60 and gave the company a "buy" rating in a research report on Friday, June 26th. Berenberg Bank set a $140.00 price target on shares of CRH in a report on Tuesday, September 8th. Wells Fargo & Company reduced their price objective on shares of CRH from $132.00 to $107.00 and set an "overweight" rating for the company in a research report on Wednesday, September 9th. DA Davidson initiated coverage on shares of CRH in a report on Monday, August 24th. They set a "buy" rating and a $137.00 price objective on the stock. Finally, Citigroup lowered shares of CRH from a "buy" rating to a "cautious" rating in a research report on Wednesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $139.57.

CRH Stock Performance

Shares of CRH opened at $87.83 on Wednesday. The stock has a 50 day moving average price of $97.24 and a 200 day moving average price of $104.71. The stock has a market capitalization of $58.43 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.61 and a beta of 1.33. Crh Plc has a one year low of $86.84 and a one year high of $131.55.

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

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 1.8%. CRH's payout ratio is presently 27.51%.

CRH Company Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.

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