Crh Plc $CRH Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in CRH Plc by 100.2% during Q1, acquiring an additional 226,602 shares, bringing its total ownership to approximately 452,776 shares valued at $39.3 million.
• CRH reported a quarterly earnings miss with $1.94 earnings per share, falling short of analysts' estimates of $2.06, although its quarterly revenue grew by 5.7% year-over-year.
• The company declared a quarterly dividend of $0.37 per share, with a payout ratio of 23.22%, showcasing its commitment to returning value to shareholders.

Hsbc Holdings PLC grew its position in Crh Plc (NYSE:CRH - Free Report) by 100.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 452,776 shares of the construction company's stock after acquiring an additional 226,602 shares during the period. Hsbc Holdings PLC owned about 0.07% of CRH worth $39,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in CRH during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new stake in CRH during the fourth quarter worth about $32,000. Park Square Financial Group LLC purchased a new stake in CRH during the fourth quarter worth about $32,000. Colonial Trust Co SC purchased a new stake in CRH during the fourth quarter worth about $37,000. Finally, GW&K Investment Management LLC boosted its holdings in CRH by 86.7% during the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Down 0.6%

Shares of NYSE:CRH traded down $0.66 during trading on Wednesday, reaching $113.61. The stock had a trading volume of 1,985,122 shares, compared to its average volume of 5,528,820. The business has a fifty day moving average price of $99.04 and a 200-day moving average price of $95.92. The stock has a market cap of $76.42 billion, a P/E ratio of 23.77, a PEG ratio of 1.45 and a beta of 1.26. Crh Plc has a fifty-two week low of $76.75 and a fifty-two week high of $114.40.

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 for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). The firm had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 EPS. As a group, equities analysts forecast that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH's dividend payout ratio is 23.22%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CRH shares. Morgan Stanley restated an "overweight" rating on shares of CRH in a research report on Friday, August 8th. Royal Bank Of Canada restated an "outperform" rating and set a $112.00 target price (up previously from $108.00) on shares of CRH in a research report on Friday, August 8th. The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. JPMorgan Chase & Co. started coverage on shares of CRH in a research report on Tuesday. They set an "overweight" rating and a $130.00 target price for the company. Finally, DA Davidson restated a "neutral" rating and set a $105.00 target price (down previously from $120.00) on shares of CRH in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target 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.