LGT Group Foundation Buys 183,574 Shares of Crh Plc (NYSE:CRH)

Key Points

• LGT Group Foundation has increased its stake in CRH Plc by 23.1%, purchasing an additional 183,574 shares, bringing its total ownership to 978,682 shares.
• CRH has a current consensus rating of "Buy" among analysts, with a target price averaging $113.18.
• The company announced a quarterly dividend of $0.37 per share, which will be paid to stockholders on September 24th, resulting in an annualized dividend yield of 1.4%.

LGT Group Foundation increased its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 23.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 978,682 shares of the construction company's stock after buying an additional 183,574 shares during the quarter. CRH comprises approximately 1.2% of LGT Group Foundation's investment portfolio, making the stock its 20th biggest position. LGT Group Foundation owned about 0.14% of CRH worth $86,095,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CRH. Raymond James Financial Inc. purchased a new position in CRH in the fourth quarter worth $41,407,000. Covestor Ltd raised its holdings in shares of CRH by 20.4% in the 4th quarter. Covestor Ltd now owns 755 shares of the construction company's stock valued at $70,000 after purchasing an additional 128 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in CRH by 63.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 27,038 shares of the construction company's stock valued at $2,501,000 after acquiring an additional 10,460 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in CRH during the fourth quarter worth $213,000. Finally, Mariner LLC lifted its stake in shares of CRH by 8.7% in the fourth quarter. Mariner LLC now owns 73,254 shares of the construction company's stock worth $6,777,000 after buying an additional 5,851 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

CRH Price Performance

CRH stock traded down $0.96 on Friday, reaching $110.79. 2,780,159 shares of the company were exchanged, compared to its average volume of 4,672,656. Crh Plc has a 12 month low of $76.75 and a 12 month high of $113.95. The stock's fifty day moving average price is $96.13 and its 200 day moving average price is $95.38. The firm has a market capitalization of $74.52 billion, a PE ratio of 23.18, a PEG ratio of 1.43 and a beta of 1.26.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%. The company had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same period last year, the firm earned $1.88 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research analysts expect that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

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 given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 22nd. CRH's dividend payout ratio (DPR) is presently 23.22%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Vertical Research raised shares of CRH to a "strong-buy" rating in a research note on Friday, August 1st. Morgan Stanley restated an "overweight" rating on shares of CRH in a report on Friday, August 8th. Royal Bank Of Canada reissued an "outperform" rating and issued a $112.00 price objective (up previously from $108.00) on shares of CRH in a research note on Friday, August 8th. Sanford C. Bernstein began coverage on CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective for the company. Finally, DA Davidson reissued a "neutral" rating and set a $105.00 target price (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $113.18.

About CRH

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.