Crh Plc $CRH Stock Bought by Davis Rea LTD.

Key Points

• Davis Rea LTD. increased its CRH position by 1,292.9% in the third quarter, purchasing 65,100 additional shares to hold 70,135 shares worth approximately $5.8 million. Institutional investors and hedge funds collectively own 62.5% of CRH.
• CRH shares fell 1.2% to $80.07, near the stock’s 52-week low of $79.95 and well below its $131.55 high. The company pays a quarterly dividend of $0.39, equivalent to a 1.9% annualized yield.
• CRH exceeded quarterly earnings and revenue expectations, reporting EPS of $2.21 and revenue of $10.78 billion. Analysts maintain a consensus “Buy” rating with an average price target of $127.61.

Davis Rea LTD. lifted its position in Crh Plc (NYSE:CRH - Free Report) by 1,292.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,135 shares of the construction company's stock after purchasing an additional 65,100 shares during the quarter. CRH comprises 1.7% of Davis Rea LTD.'s holdings, making the stock its 17th largest position. Davis Rea LTD.'s holdings in CRH were worth $5,807,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in CRH by 18.2% in the third quarter. Farther Finance Advisors LLC now owns 12,508 shares of the construction company's stock valued at $1,036,000 after purchasing an additional 1,928 shares during the last quarter. Apella Capital LLC boosted its position in CRH by 19.8% in the 3rd quarter. Apella Capital LLC now owns 4,584 shares of the construction company's stock worth $373,000 after purchasing an additional 757 shares in the last quarter. Gradient Investments LLC increased its holdings in shares of CRH by 20.4% during the 3rd quarter. Gradient Investments LLC now owns 56,273 shares of the construction company's stock valued at $4,659,000 after purchasing an additional 9,534 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in CRH during the third quarter worth $235,000. Finally, Whalen Wealth Management Inc. boosted its holdings in CRH by 29.3% during the third quarter. Whalen Wealth Management Inc. now owns 5,436 shares of the construction company's stock worth $450,000 after buying an additional 1,233 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Stock Down 1.2%

Shares of CRH stock traded down $0.98 during trading hours on Tuesday, hitting $80.07. 4,858,343 shares of the company's stock were exchanged, compared to its average volume of 4,938,632. Crh Plc has a fifty-two week low of $79.95 and a fifty-two week high of $131.55. The firm has a market cap of $53.27 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.60 and a beta of 1.31. The firm has a 50 day moving average of $90.29 and a two-hundred day moving average of $101.39.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.19. The firm had revenue of $10.78 billion for the quarter, compared to analysts' expectations of $10.68 billion. CRH had a net margin of 9.93% and a return on equity of 15.76%. The firm's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 EPS. On average, equities analysts forecast that Crh Plc will post 5.90 earnings per share for the current fiscal year.

CRH Announces Dividend

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

Wall Street Analyst Weigh In

CRH has been the subject of a number of recent analyst reports. Stephens cut their price objective on shares of CRH from $125.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, October 2nd. DA Davidson assumed coverage on shares of CRH in a research report on Monday, August 24th. They issued a "buy" rating and a $137.00 price objective for the company. Jefferies Financial Group lowered their target price on shares of CRH from $159.50 to $126.50 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Citigroup lowered their target price on shares of CRH from $122.00 to $106.00 and set a "buy" rating on the stock in a research note on Friday, October 2nd. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of CRH in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $127.61.

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.

Want to see what other hedge funds are holding CRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crh Plc (NYSE:CRH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.