K.J. Harrison & Partners Inc Reduces Stock Position in Crh Plc (NYSE:CRH)

K.J. Harrison & Partners Inc lowered its position in shares of Crh Plc (NYSE:CRH - Free Report) by 53.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,820 shares of the construction company's stock after selling 46,000 shares during the period. K.J. Harrison & Partners Inc's holdings in CRH were worth $3,503,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of CRH by 11.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,748,643 shares of the construction company's stock worth $153,828,000 after acquiring an additional 185,681 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of CRH in the 1st quarter worth about $13,509,000. Waverton Investment Management Ltd increased its stake in shares of CRH by 239.0% in the 1st quarter. Waverton Investment Management Ltd now owns 7,715 shares of the construction company's stock worth $679,000 after acquiring an additional 5,439 shares in the last quarter. Diversified Trust Co increased its stake in shares of CRH by 1.8% in the 1st quarter. Diversified Trust Co now owns 12,536 shares of the construction company's stock worth $1,103,000 after acquiring an additional 223 shares in the last quarter. Finally, PDS Planning Inc increased its stake in shares of CRH by 4.9% in the 1st quarter. PDS Planning Inc now owns 3,291 shares of the construction company's stock worth $290,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Up 2.7%

NYSE CRH opened at $91.52 on Friday. The company has a fifty day moving average of $92.80 and a two-hundred day moving average of $94.58. The firm has a market capitalization of $61.83 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.39 and a beta of 1.28. Crh Plc has a 52 week low of $71.18 and a 52 week high of $110.97.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The company had revenue of $6.76 billion for the quarter, compared to analysts' expectations of $6.77 billion. CRH had a net margin of 9.17% and a return on equity of 15.88%. Equities research analysts anticipate that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Friday, May 23rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.62%. CRH's dividend payout ratio is presently 23.52%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Loop Capital began coverage on shares of CRH in a research note on Wednesday, April 9th. They set a "buy" rating and a $114.00 price objective for the company. Sanford C. Bernstein began coverage on shares of CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $114.18.

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.

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