Global Assets Advisory LLC Takes Position in Crh Plc $CRH

Key Points

• Global Assets Advisory LLC has acquired a new position in CRH Plc, purchasing 2,475 shares valued at approximately $231,000 in the second quarter.
• CRH's stock recently reported a 1.4% decrease, and the company's earnings missed analysts' estimates, posting $1.94 EPS against a consensus of $2.06.
• The company announced a quarterly dividend of $0.37 per share, which contributes to an annualized yield of 1.3% and a payout ratio of 23.22%.

Global Assets Advisory LLC purchased a new position in Crh Plc (NYSE:CRH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,475 shares of the construction company's stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of CRH by 62.8% during the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock worth $5,608,567,000 after buying an additional 24,591,538 shares during the last quarter. Nuveen LLC purchased a new position in shares of CRH during the 1st quarter worth approximately $597,888,000. Massachusetts Financial Services Co. MA grew its holdings in CRH by 43.2% during 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CRH by 58,695.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,830,994 shares of the construction company's stock worth $249,043,000 after buying an additional 2,826,179 shares in the last quarter. Finally, AGF Management Ltd. raised its holdings in shares of CRH by 195.0% in the first quarter. AGF Management Ltd. now owns 3,052,011 shares of the construction company's stock worth $268,485,000 after acquiring an additional 2,017,484 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Stock Down 1.4%

Shares of NYSE CRH opened at $118.28 on Tuesday. The stock has a market capitalization of $79.56 billion, a PE ratio of 24.74, a P/E/G ratio of 1.59 and a beta of 1.32. The firm has a fifty day moving average of $110.81 and a 200-day moving average of $98.59. Crh Plc has a 52-week low of $76.75 and a 52-week high of $121.88.

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

CRH Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.37 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. CRH's payout ratio is presently 23.22%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research note on Tuesday, September 2nd. UBS Group set a $152.00 target price on shares of CRH in a report on Wednesday, October 1st. JPMorgan Chase & Co. assumed coverage on shares of CRH in a report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price target for the company. Truist Financial boosted their price objective on shares of CRH from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Finally, Jefferies Financial Group upgraded shares of CRH to a "strong-buy" rating in a research report on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $124.31.

CRH 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.

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