Invesco Ltd. Sells 1,195,654 Shares of Crh Plc (NYSE:CRH)

Key Points

• Invesco Ltd. reduced its holdings in CRH Plc by 13.4%, selling 1,195,654 shares and maintaining ownership of approximately 7.76 million shares valued at $682.3 million.
• CRH announced a $0.37 quarterly dividend, with a payout ratio of 23.22%, set to be paid on September 24th to shareholders recorded on August 22nd.
• Analysts have a consensus target price of $113.18 for CRH, with a mix of ratings including two strong buy and ten buy ratings, indicating positive outlooks for the stock.

Invesco Ltd. reduced its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 13.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,756,268 shares of the construction company's stock after selling 1,195,654 shares during the quarter. Invesco Ltd. owned approximately 1.15% of CRH worth $682,319,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Orion Capital Management LLC bought a new stake in CRH during the fourth quarter worth $28,000. Park Square Financial Group LLC bought a new stake in shares of CRH in the fourth quarter valued at $32,000. Heck Capital Advisors LLC bought a new stake in shares of CRH in the fourth quarter valued at $32,000. Colonial Trust Co SC bought a new stake in shares of CRH in the fourth quarter valued at $37,000. Finally, GW&K Investment Management LLC raised its stake 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 valued at $39,000 after buying an additional 208 shares during the period. 62.50% of the stock is currently owned by institutional investors.

CRH Trading Up 2.5%

NYSE CRH opened at $109.56 on Friday. The stock has a 50-day moving average of $94.17 and a 200-day moving average of $94.95. The firm has a market cap of $74.02 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.41 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 posted its earnings results 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). CRH had a return on equity of 15.68% and a net margin of 9.09%. The firm had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. During the same quarter last year, the company posted $1.88 EPS. The firm's revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

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

Analysts Set New Price Targets

CRH has been the topic of several research reports. Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 target price (up from $108.00) on shares of CRH in a research note on Friday. Vertical Research upgraded CRH to a "strong-buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. DA Davidson reiterated a "neutral" rating and issued a $105.00 price target (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Finally, Sanford C. Bernstein started coverage on CRH in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price target for the company. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $113.18.

About CRH

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.

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