Lansforsakringar Fondforvaltning AB publ Cuts Stock Holdings in Crh Plc $CRH

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its investment in Crh Plc by 53.3%, holding $38.41 million worth of shares as of the latest quarter.
• Wall Street analysts maintain a positive outlook on CRH, with an average price target of $114.64 and several "outperform" and "buy" ratings from multiple research firms.
• CRH recently announced a quarterly dividend of $0.37 per share, equating to an annualized yield of 1.3%, with a payout ratio currently at 23.22%.

Lansforsakringar Fondforvaltning AB publ cut its stake in Crh Plc (NYSE:CRH - Free Report) by 53.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 436,595 shares of the construction company's stock after selling 497,865 shares during the period. Lansforsakringar Fondforvaltning AB publ owned 0.06% of CRH worth $38,407,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in CRH in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new stake in CRH in the 4th quarter worth approximately $32,000. Park Square Financial Group LLC acquired a new stake in CRH in the 4th quarter worth approximately $32,000. Colonial Trust Co SC acquired a new stake in CRH in the 4th quarter worth approximately $37,000. Finally, GW&K Investment Management LLC boosted its stake in CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after purchasing an additional 208 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Price Performance

CRH traded down $2.25 during trading on Tuesday, reaching $110.70. 2,041,941 shares of the company's stock were exchanged, compared to its average volume of 5,505,865. Crh Plc has a 1 year low of $76.75 and a 1 year high of $114.40. The stock has a market capitalization of $74.46 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. The company's fifty day simple moving average is $100.97 and its 200-day simple moving average is $96.08.

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 the consensus estimate of $2.06 by ($0.12). The firm had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. CRH's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.88 earnings per share. Equities analysts forecast that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on CRH shares. Sanford C. Bernstein started coverage on shares of CRH in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price for the company. Morgan Stanley reiterated an "overweight" rating on shares of CRH in a research note on Friday, August 8th. DA Davidson reissued a "neutral" rating and set a $105.00 price target (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Vertical Research raised shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $112.00 price target (up from $108.00) on shares of CRH in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus 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.