Goldman Sachs Group Inc. Lowers Stock Holdings in Crh Plc (NYSE:CRH)

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in CRH Plc by 14.9%, owning 7.7 million shares valued at approximately $677 million after selling over 1.3 million shares in the first quarter.
• CRH's stock price has seen a 2.5% increase, recently trading at $109.56 with a market cap of $74.02 billion, despite missing quarterly earnings expectations.
• The company has announced a quarterly dividend of $0.37 per share, with a dividend yield of 1.4% and a payout ratio of 23.22%.

Goldman Sachs Group Inc. lessened its position in Crh Plc (NYSE:CRH - Free Report) by 14.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,698,892 shares of the construction company's stock after selling 1,347,300 shares during the quarter. Goldman Sachs Group Inc. owned 1.14% of CRH worth $677,272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Diversify Advisory Services LLC increased its stake in CRH by 5.0% in the first quarter. Diversify Advisory Services LLC now owns 2,572 shares of the construction company's stock valued at $240,000 after acquiring an additional 123 shares during the last quarter. Covestor Ltd increased its stake in CRH by 20.4% in the fourth quarter. Covestor Ltd now owns 755 shares of the construction company's stock valued at $70,000 after acquiring an additional 128 shares during the last quarter. Yousif Capital Management LLC increased its stake in CRH by 1.7% in the first 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 increased its stake in CRH by 0.9% in the first 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 increased its stake in CRH by 1.4% in the first 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. Institutional investors own 62.50% of the company's stock.

CRH Stock Up 2.5%

Shares of CRH stock traded up $2.64 during trading on Friday, reaching $109.56. 7,683,843 shares of the stock were exchanged, compared to its average volume of 4,160,455. The stock's fifty day moving average is $94.17 and its 200 day moving average is $94.99. The firm has a market cap of $74.02 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. Crh Plc has a 1 year low of $76.75 and a 1 year high of $110.97.

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). CRH had a return on equity of 15.68% and a net margin of 9.09%. The company had revenue of $10.21 billion during the quarter, compared to analysts' expectations of $10.27 billion. During the same quarter last year, the business earned $1.88 earnings per share. The business's quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be issued a $0.37 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.4%. CRH's dividend payout ratio (DPR) is 23.22%.

Analyst Upgrades and Downgrades

CRH has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued 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. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research note on Friday. Sanford C. Bernstein initiated coverage on CRH in a research note on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective on the stock. DA Davidson reaffirmed a "neutral" rating and set a $105.00 price objective (down from $120.00) on shares of CRH in a research note on Thursday, July 10th. Finally, Vertical Research raised CRH to a "strong-buy" rating in a research note on Friday, August 1st. Two 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $113.18.

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.