Intech Investment Management LLC Sells 3,587 Shares of Crh Plc $CRH

Key Points

• Intech Investment Management LLC reduced its ownership in CRH Plc by 7.6%, selling 3,587 shares and holding a total of 43,342 shares worth approximately $3.81 million.
• CRH recently declared a quarterly dividend of $0.37 per share, with a dividend yield of 1.3%, to be paid on September 24th.
• Despite a recent earnings miss, several analysts have reiterated strong buy or overweight ratings on CRH, with a consensus price target of $116.00.

Intech Investment Management LLC lessened its holdings in Crh Plc (NYSE:CRH - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,342 shares of the construction company's stock after selling 3,587 shares during the period. Intech Investment Management LLC's holdings in CRH were worth $3,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of CRH in the fourth quarter worth $28,000. Park Square Financial Group LLC purchased a new stake in shares of CRH in the fourth quarter worth $32,000. Heck Capital Advisors LLC purchased a new stake in shares of CRH in the fourth quarter worth $32,000. GW&K Investment Management LLC raised its position in shares of CRH by 86.7% in 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. Finally, Ransom Advisory Ltd purchased a new stake in shares of CRH in the first quarter worth $47,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Performance

Shares of NYSE CRH traded down $0.74 during trading hours on Wednesday, hitting $111.79. The company's stock had a trading volume of 1,240,580 shares, compared to its average volume of 5,366,286. The stock has a market cap of $75.20 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 1.47 and a beta of 1.31. Crh Plc has a 12 month low of $76.75 and a 12 month high of $114.83. The business has a 50-day simple moving average of $105.25 and a 200-day simple moving average of $96.80.

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

CRH Dividend Announcement

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

Analysts Set New Price Targets

CRH has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on CRH in a research report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price target on the stock. Vertical Research upgraded CRH to a "strong-buy" rating in a research report on Friday, August 1st. DA Davidson restated a "neutral" rating and set a $105.00 price target (down previously from $120.00) on shares of CRH in a research report on Thursday, July 10th. Royal Bank Of Canada restated an "outperform" rating and set a $112.00 price target (up previously from $108.00) on shares of CRH in a research report on Friday, August 8th. Finally, Sanford C. Bernstein raised their price target on CRH from $115.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, CRH has a consensus rating of "Buy" and an average target price of $116.00.

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.