Federation des caisses Desjardins du Quebec Reduces Stock Position in Crh Plc $CRH

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its stake in CRH Plc by 4.3%, now holding approximately 0.07% of the firm, valued at $40.92 million.
• In contrast, Vanguard Group Inc. increased its CRH stake by 62.8% during the same quarter, becoming a significant institutional investor with holdings valued at $5.61 billion.
• CRH is set to pay a quarterly dividend of $0.37 per share on September 24, representing an annualized yield of 1.3% and indicating a payout ratio of 23.22%.

Federation des caisses Desjardins du Quebec trimmed its position in Crh Plc (NYSE:CRH - Free Report) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 467,504 shares of the construction company's stock after selling 20,848 shares during the period. Federation des caisses Desjardins du Quebec owned approximately 0.07% of CRH worth $40,920,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Diversify Advisory Services LLC boosted its holdings in shares of CRH by 5.0% in the 1st quarter. Diversify Advisory Services LLC now owns 2,572 shares of the construction company's stock valued at $240,000 after purchasing an additional 123 shares in the last quarter. Callan Family Office LLC boosted its holdings in shares of CRH by 4.4% in the 1st quarter. Callan Family Office LLC now owns 3,074 shares of the construction company's stock valued at $270,000 after purchasing an additional 129 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of CRH by 1.7% in the 1st quarter. Yousif Capital Management LLC now owns 8,196 shares of the construction company's stock valued at $721,000 after acquiring an additional 139 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of CRH by 0.9% in the 1st quarter. Fifth Third Bancorp now owns 15,257 shares of the construction company's stock valued at $1,342,000 after acquiring an additional 140 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of CRH by 1.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 10,387 shares of the construction company's stock valued at $914,000 after acquiring an additional 141 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

CRH Trading Up 0.6%

Shares of CRH traded up $0.63 during midday trading on Friday, reaching $112.24. The stock had a trading volume of 3,599,695 shares, compared to its average volume of 4,118,219. The company's 50-day moving average is $102.68 and its 200 day moving average is $96.26. Crh Plc has a 12-month low of $76.75 and a 12-month high of $114.40. The company has a market capitalization of $75.50 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 earnings per share (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 firm had revenue of $10.21 billion during the quarter, compared to analysts' expectations of $10.27 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. CRH's revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts forecast that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders 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 is presently 23.22%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CRH shares. DA Davidson reaffirmed a "neutral" rating and set a $105.00 target price (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Vertical Research upgraded CRH to a "strong-buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. assumed coverage on CRH in a research note on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price objective for the company. Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 target price (up previously from $108.00) on shares of CRH in a research note on Friday, August 8th. Finally, Morgan Stanley restated an "overweight" rating on shares of CRH in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $114.64.

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.