Gulf International Bank UK Ltd Sells 13,967 Shares of Crh Plc $CRH

Key Points

• Gulf International Bank UK Ltd reduced its stake in CRH Plc by 26.6%, selling 13,967 shares, leaving them with 38,527 shares valued at approximately $3.39 million.
• Several institutional investors increased their holdings in CRH, with 62.50% of the stock currently owned by institutions and hedge funds.
• CRH recently reported an earnings per share (EPS) of $1.94, missing estimates, and announced a quarterly dividend of $0.37, equating to an annual yield of 1.3%.

Gulf International Bank UK Ltd decreased its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 26.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 38,527 shares of the construction company's stock after selling 13,967 shares during the period. Gulf International Bank UK Ltd's holdings in CRH were worth $3,389,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of CRH during the 1st quarter valued at about $744,000. Massachusetts Financial Services Co. MA grew its holdings in CRH by 43.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after buying an additional 3,108,416 shares during the last quarter. GAMMA Investing LLC grew its holdings in CRH by 27.4% in the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the construction company's stock valued at $169,000 after buying an additional 413 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in CRH by 211.3% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,411,543 shares of the construction company's stock valued at $123,601,000 after buying an additional 958,061 shares during the last quarter. Finally, Exane Asset Management grew its holdings in CRH by 22.2% in the 1st quarter. Exane Asset Management now owns 226,087 shares of the construction company's stock valued at $19,889,000 after buying an additional 41,013 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Price Performance

Shares of CRH stock traded up $0.77 during midday trading on Monday, hitting $111.61. 6,303,219 shares of the company were exchanged, compared to its average volume of 5,599,918. The firm has a market cap of $75.08 billion, a P/E ratio of 23.35, a PEG ratio of 1.42 and a beta of 1.26. Crh Plc has a 52 week low of $76.75 and a 52 week high of $113.95. The firm has a 50 day simple moving average of $96.13 and a 200-day simple moving average of $95.32.

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

CRH Dividend Announcement

The firm also recently disclosed 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 is Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH's payout ratio is presently 23.22%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CRH shares. Sanford C. Bernstein started coverage on CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $112.00 target price (up previously from $108.00) on shares of CRH in a report on Friday, August 8th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. DA Davidson reiterated a "neutral" rating and issued a $105.00 price objective (down previously from $120.00) on shares of CRH in a research report on Thursday, July 10th. Finally, Vertical Research upgraded CRH to a "strong-buy" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, CRH presently has a consensus rating of "Buy" and an average price target of $113.18.

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.