ING Groep NV Reduces Stock Position in Crh Plc (NYSE:CRH)

Key Points

• ING Groep NV has significantly reduced its stake in CRH Plc by 95.6%, selling 548,600 shares and now holding only 25,400 shares valued at approximately $2.23 million.
• The company's recent quarterly earnings showed a loss of ($0.12) per share, below the expected ($0.06), with revenues reported at $6.76 billion.
• Analyst ratings for CRH indicate a consensus of “Moderate Buy” with an average target price of $112.82, although some brokerages have adjusted their target prices downward.

ING Groep NV lessened its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 95.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 25,400 shares of the construction company's stock after selling 548,600 shares during the period. ING Groep NV's holdings in CRH were worth $2,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC bought a new stake in shares of CRH during the fourth quarter worth $28,000. Heck Capital Advisors LLC bought a new stake in CRH during the 4th quarter valued at about $32,000. Park Square Financial Group LLC purchased a new stake in CRH in the 4th quarter valued at about $32,000. Colonial Trust Co SC purchased a new position in shares of CRH during the fourth quarter worth approximately $37,000. Finally, GW&K Investment Management LLC raised its stake in shares of CRH by 86.7% during the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock valued at $39,000 after acquiring an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Performance

NYSE:CRH traded up $2.64 during midday trading on Friday, reaching $109.56. 7,478,001 shares of the stock traded hands, compared to its average volume of 5,646,591. The stock has a market capitalization of $74.02 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26. Crh Plc has a 12-month low of $76.75 and a 12-month high of $110.97. The business has a 50-day moving average of $93.80 and a two-hundred day moving average of $94.92.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.83%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.88 EPS. Research analysts anticipate that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. CRH's payout ratio is presently 23.22%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Vertical Research raised CRH to a "strong-buy" rating in a research note on Friday, August 1st. Sanford C. Bernstein assumed coverage on CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price for the company. Morgan Stanley restated an "overweight" rating on shares of CRH in a research note on Friday. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $112.00 price objective (up from $108.00) on shares of CRH in a research note on Friday. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price 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.