Mackenzie Financial Corp Cuts Stock Holdings in Crh Plc (NYSE:CRH)

Key Points

• Mackenzie Financial Corp reduced its stake in CRH Plc by 13.3%, selling 343,379 shares and now owning 2,231,187 shares worth $196,278,000.
• Analysts have set a consensus rating of "Moderate Buy" for CRH, with price targets ranging from $108.00 to $115.00.
• CRH announced a quarterly dividend of $0.37, representing an annualized yield of 1.48% with a dividend payout ratio of 23.52%.

Mackenzie Financial Corp lessened its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 13.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,231,187 shares of the construction company's stock after selling 343,379 shares during the quarter. Mackenzie Financial Corp owned about 0.33% of CRH worth $196,278,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Orion Capital Management LLC purchased a new position in shares of CRH in the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new position in shares of CRH during the fourth quarter valued at about $32,000. Park Square Financial Group LLC bought a new stake in shares of CRH in the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. boosted its stake in CRH by 214.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company's stock valued at $33,000 after buying an additional 240 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new position in CRH during the 4th quarter valued at approximately $37,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Loop Capital assumed coverage on CRH in a report on Wednesday, April 9th. They set a "buy" rating and a $114.00 price objective on the stock. Morgan Stanley reiterated an "overweight" rating on shares of CRH in a research report on Wednesday, May 7th. The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. DA Davidson restated a "neutral" rating and set a $105.00 price objective (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Finally, Sanford C. Bernstein initiated coverage on CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, CRH has an average rating of "Moderate Buy" and an average target price of $112.82.

CRH Stock Performance

CRH stock traded down $1.52 during midday trading on Thursday, reaching $95.00. The company's stock had a trading volume of 1,725,986 shares, compared to its average volume of 5,642,399. The firm has a market capitalization of $64.19 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.53 and a beta of 1.26. Crh Plc has a 1 year low of $74.03 and a 1 year high of $110.97. The stock has a fifty day simple moving average of $93.21 and a two-hundred day simple moving average of $94.77.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The construction company reported ($0.12) earnings per share 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 the consensus estimate of $6.77 billion. CRH had a net margin of 9.17% and a return on equity of 15.88%. As a group, analysts forecast that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Friday, May 23rd were paid a $0.37 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.48 annualized dividend and a yield of 1.56%. CRH's dividend payout ratio (DPR) is currently 23.52%.

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.