Groupe la Francaise Raises Stock Holdings in Crh Plc $CRH

Key Points

• Groupe la Francaise increased its CRH stake by 23.6% in the second quarter, holding 829,603 shares worth approximately $86.6 million. Institutional investors and hedge funds collectively own 62.5% of CRH.
• CRH reported quarterly EPS of $2.21, beating estimates of $2.02, while revenue reached $10.78 billion and rose 5.6% year over year.
• Shares opened at $94.19, down 0.1%, while CRH declared a $0.39 quarterly dividend. Analysts maintain a consensus “Buy” rating with an average price target of $140.57.

Groupe la Francaise boosted its position in shares of Crh Plc (NYSE:CRH - Free Report) by 23.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 829,603 shares of the construction company's stock after acquiring an additional 158,242 shares during the quarter. CRH comprises about 1.0% of Groupe la Francaise's portfolio, making the stock its 20th largest position. Groupe la Francaise owned about 0.12% of CRH worth $86,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRH. Continuum Advisory LLC purchased a new position in shares of CRH in the second quarter worth about $29,000. Riggs Asset Managment Co. Inc. boosted its position in CRH by 1,835.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company's stock valued at $30,000 after buying an additional 312 shares during the last quarter. Bell Investment Advisors Inc boosted its position in CRH by 51.2% in the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company's stock valued at $32,000 after buying an additional 103 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in CRH in the 4th quarter worth approximately $33,000. Finally, Elyxium Wealth LLC acquired a new position in CRH in the 4th quarter worth approximately $37,000. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Trading Down 0.1%

Shares of NYSE:CRH opened at $94.19 on Monday. Crh Plc has a 12-month low of $90.21 and a 12-month high of $131.55. The business has a 50 day moving average of $99.69 and a two-hundred day moving average of $106.35. The company has a market capitalization of $62.66 billion, a PE ratio of 16.61, a PEG ratio of 1.71 and a beta of 1.33.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.19. The business had revenue of $10.78 billion for the quarter, compared to analysts' expectations of $10.68 billion. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business's revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.94 EPS. Equities research analysts predict that Crh Plc will post 5.9 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 1.7%. CRH's payout ratio is presently 27.51%.

Analyst Upgrades and Downgrades

Several analysts have commented on CRH shares. Weiss Ratings upgraded shares of CRH from a "hold (c)" rating to a "buy (b-)" rating in a research note on Friday, July 31st. Jefferies Financial Group increased their price objective on shares of CRH from $149.00 to $165.60 and gave the stock a "buy" rating in a research note on Friday, June 26th. Sanford C. Bernstein reissued an "outperform" rating on shares of CRH in a report on Tuesday, June 23rd. Wells Fargo & Company decreased their target price on shares of CRH from $135.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Finally, Stephens lowered their price target on shares of CRH from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $140.57.

About CRH

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH's core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.

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