Phoenix Financial Ltd. Reduces Position in Crh Plc (NYSE:CRH)

Key Points

• Phoenix Financial Ltd. reduced its stake in CRH Plc by 29.3% in the first quarter, leaving it with 56,113 shares valued at approximately $4.96 million.
• CRH reported a loss of $0.12 per share in its last quarter, missing expectations, with a net margin of 9.17% and a revenue of $6.76 billion.
• Analysts forecast an average price target of $112.82 for CRH, with ten buy ratings and one strong buy rating indicating positive market sentiment.

Phoenix Financial Ltd. lessened its holdings in Crh Plc (NYSE:CRH - Free Report) by 29.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,113 shares of the construction company's stock after selling 23,293 shares during the quarter. Phoenix Financial Ltd.'s holdings in CRH were worth $4,958,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in CRH in the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in shares of CRH during the 4th quarter worth approximately $32,000. Park Square Financial Group LLC acquired a new stake in shares of CRH during the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. grew its position in CRH by 214.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company's stock valued at $33,000 after purchasing an additional 240 shares during the period. Finally, Colonial Trust Co SC acquired a new stake in CRH in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Stock Down 0.7%

Shares of NYSE CRH traded down $0.69 during trading on Tuesday, reaching $97.85. The company had a trading volume of 1,487,104 shares, compared to its average volume of 5,676,923. Crh Plc has a 12-month low of $74.03 and a 12-month high of $110.97. The stock has a market cap of $66.11 billion, a PE ratio of 20.74, a P/E/G ratio of 1.58 and a beta of 1.26. The business's 50-day moving average is $93.16 and its 200 day moving average is $94.74.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The construction company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). CRH had a net margin of 9.17% and a return on equity of 15.88%. The business had revenue of $6.76 billion for the quarter, compared to analysts' expectations of $6.77 billion. On average, analysts anticipate 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 was paid on Wednesday, June 25th. Investors of record on Friday, May 23rd were given a dividend of $0.37 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.48 annualized dividend and a dividend yield of 1.51%. CRH's dividend payout ratio (DPR) is presently 23.52%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CRH shares. Loop Capital initiated coverage on CRH in a research note on Wednesday, April 9th. They set a "buy" rating and a $114.00 price objective on the stock. Royal Bank Of Canada cut their price objective on CRH from $127.00 to $108.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research note on Wednesday, May 7th. The Goldman Sachs Group reissued a "neutral" rating on shares of CRH in a research note on Tuesday, May 6th. Finally, Sanford C. Bernstein assumed coverage on CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 target price for the company. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $112.82.

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.