Crh Plc $CRH Shares Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its holdings in Crh Plc by 21.6%, now owning 73,102 shares valued at $6.43 million.
• Several hedge funds have also raised their stakes in CRH, with Massachusetts Financial Services increasing its position by 43.2% to over $906 million.
• CRH plans to pay a quarterly dividend of $0.37 per share on September 24, 2023, representing an annualized yield of 1.3%.

Ieq Capital LLC grew its position in shares of Crh Plc (NYSE:CRH - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,102 shares of the construction company's stock after purchasing an additional 12,962 shares during the quarter. Ieq Capital LLC's holdings in CRH were worth $6,431,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Gabelli Funds LLC grew its holdings in shares of CRH by 18.3% during the first quarter. Gabelli Funds LLC now owns 11,000 shares of the construction company's stock worth $968,000 after buying an additional 1,700 shares during the last quarter. Findlay Park Partners LLP grew its holdings in shares of CRH by 17.0% during the first quarter. Findlay Park Partners LLP now owns 2,556,511 shares of the construction company's stock worth $224,896,000 after buying an additional 372,100 shares during the last quarter. Baupost Group LLC MA grew its holdings in shares of CRH by 2.0% during the first quarter. Baupost Group LLC MA now owns 2,694,395 shares of the construction company's stock worth $237,026,000 after buying an additional 52,993 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of CRH by 2.3% during the first quarter. MetLife Investment Management LLC now owns 12,357 shares of the construction company's stock worth $1,087,000 after buying an additional 283 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its holdings in shares of CRH by 236.0% during the first quarter. Freedom Investment Management Inc. now owns 7,438 shares of the construction company's stock worth $654,000 after buying an additional 5,224 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

CRH has been the topic of a number of research reports. The Goldman Sachs Group reissued a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. DA Davidson reissued a "neutral" rating and set a $105.00 price target (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. JPMorgan Chase & Co. started coverage on CRH in a report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price target on the stock. Morgan Stanley restated an "overweight" rating on shares of CRH in a research report on Friday, August 8th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 price objective (up previously from $108.00) on shares of CRH in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, CRH currently has a consensus rating of "Buy" and an average target price of $114.64.

CRH Price Performance

CRH stock traded down $0.30 during mid-day trading on Friday, hitting $112.89. 3,532,118 shares of the company were exchanged, compared to its average volume of 4,712,883. 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 $75.94 billion, a P/E ratio of 23.62, a PEG ratio of 1.45 and a beta of 1.31. The business's 50 day simple moving average is $100.51 and its two-hundred day simple moving average is $96.05.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). The company had revenue of $10.21 billion for 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 firm's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 EPS. Equities research analysts predict that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be paid 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 dividend yield of 1.3%. CRH's dividend payout ratio is presently 23.22%.

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.