Crh Plc $CRH Stock Sold by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA reduced its CRH stake by 17.4% in the third quarter, selling 13,319 shares and retaining 63,096 shares valued at approximately $5.2 million.
• CRH reported quarterly earnings of $2.21 per share, beating estimates of $2.02, while revenue rose 5.6% year over year to $10.78 billion.
• Despite CRH’s stock trading near its one-year low at $83.52, analysts maintain a broadly positive outlook, with an average “Buy” rating and a consensus price target of $127.61.

Banque Pictet & Cie SA trimmed its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 17.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,096 shares of the construction company's stock after selling 13,319 shares during the quarter. Banque Pictet & Cie SA's holdings in CRH were worth $5,224,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Amundi increased its position in shares of CRH by 74.7% in the 1st quarter. Amundi now owns 5,965,814 shares of the construction company's stock worth $627,126,000 after purchasing an additional 2,550,178 shares during the last quarter. Bank of America Corp DE raised its stake in shares of CRH by 3.8% in 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 purchasing an additional 216,822 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CRH by 6.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,831,618 shares of the construction company's stock worth $507,784,000 after purchasing an additional 297,309 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of CRH by 4.1% during the first quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company's stock worth $245,460,000 after purchasing an additional 93,106 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of CRH by 27.9% during the first quarter. Janus Henderson Group PLC now owns 2,186,541 shares of the construction company's stock worth $228,994,000 after purchasing an additional 477,242 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Stock Performance

CRH stock opened at $83.52 on Friday. The firm's 50-day moving average is $89.22 and its 200-day moving average is $100.96. Crh Plc has a 1 year low of $78.62 and a 1 year high of $131.55. The company has a market cap of $55.56 billion, a P/E ratio of 14.73, a PEG ratio of 1.51 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last posted 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 analyst estimates of $10.68 billion. During the same period in the previous year, the business posted $1.94 EPS. The company's quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Crh Plc will post 5.83 earnings per share for the current year.

CRH Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th were issued 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 Analysts Forecast Growth

A number of equities analysts recently commented on CRH shares. Truist Financial decreased their price target on CRH from $130.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, October 5th. Royal Bank Of Canada cut their price objective on CRH from $165.00 to $135.00 and set an "outperform" rating on the stock in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft set a $118.00 price objective on CRH in a research note on Friday, October 9th. Rothschild & Co Redburn reduced their target price on CRH from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, October 1st. Finally, UBS Group decreased their target price on CRH from $147.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, September 22nd. 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 stock. According to MarketBeat, the stock has an average rating of "Buy" and an average 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.

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