Mediolanum International Funds Ltd Has $34.68 Million Stake in Crh Plc (NYSE:CRH)

Key Points

• Mediolanum International Funds Ltd increased its stake in CRH Plc by 27.1%, owning approximately 393,419 shares valued at $34.68 million as of the latest SEC filing.
• CRH reported a quarterly earnings miss with a loss of ($0.12) per share, below the expected ($0.06), and generated $6.76 billion in revenue against a $6.77 billion consensus estimate.
• The company has a dividend yield of 1.48%, having recently declared a quarterly dividend of $0.37, reinforcing its financial health as reflected by a 23.52% payout ratio.

Mediolanum International Funds Ltd increased its stake in Crh Plc (NYSE:CRH - Free Report) by 27.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 393,419 shares of the construction company's stock after buying an additional 83,931 shares during the period. Mediolanum International Funds Ltd owned about 0.06% of CRH worth $34,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC boosted its holdings in CRH by 60.5% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 81,063 shares of the construction company's stock worth $7,131,000 after purchasing an additional 30,542 shares during the period. Longbow Finance SA acquired a new stake in CRH in the first quarter worth about $2,830,000. Avantax Advisory Services Inc. raised its position in CRH by 0.5% in the first quarter. Avantax Advisory Services Inc. now owns 48,565 shares of the construction company's stock worth $4,272,000 after acquiring an additional 220 shares in the last quarter. One Wealth Advisors LLC raised its position in CRH by 6.0% in the first quarter. One Wealth Advisors LLC now owns 3,807 shares of the construction company's stock worth $336,000 after acquiring an additional 214 shares in the last quarter. Finally, Machina Capital S.A.S. raised its position in CRH by 205.9% in the first quarter. Machina Capital S.A.S. now owns 18,164 shares of the construction company's stock worth $1,598,000 after acquiring an additional 12,226 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Stock Up 0.6%

Shares of CRH stock traded up $0.57 during trading hours on Wednesday, reaching $97.81. 979,381 shares of the company's stock were exchanged, compared to its average volume of 5,655,479. Crh Plc has a fifty-two week low of $74.03 and a fifty-two week high of $110.97. The stock has a market capitalization of $66.08 billion, a P/E ratio of 20.72, a P/E/G ratio of 1.55 and a beta of 1.26. The business has a fifty day moving average price of $93.17 and a 200-day moving average price of $94.76.

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

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.37 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.51%. CRH's dividend payout ratio (DPR) is presently 23.52%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRH. Loop Capital initiated coverage on shares of CRH in a research report on Wednesday, April 9th. They issued a "buy" rating and a $114.00 price target on the stock. Morgan Stanley restated an "overweight" rating on shares of CRH in a report on Wednesday, May 7th. The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Royal Bank Of Canada cut their price objective on CRH from $127.00 to $108.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Sanford C. Bernstein began coverage on CRH in a research note on Tuesday, May 13th. They set an "outperform" rating and a $115.00 target price on the stock. Two 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. According to data from MarketBeat, CRH currently has an average rating of "Moderate Buy" and a consensus target price of $112.82.

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.