MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 2,826,179 Shares of Crh Plc $CRH

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. significantly increased its holdings in Crh Plc by acquiring 2,826,179 shares, resulting in a total ownership of 2,830,994 shares worth approximately $249 million.
• CRH's stock was priced at $111.53 as of the last trading session, with a market capitalization of $75.02 billion and a reported PE ratio of 23.33.
• The company announced a quarterly dividend of $0.37 per share, set to be paid on September 24th, representing an annualized yield of 1.3%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 58,695.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,830,994 shares of the construction company's stock after acquiring an additional 2,826,179 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.42% of CRH worth $249,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in CRH during the fourth quarter worth about $28,000. Park Square Financial Group LLC bought a new position in CRH during the fourth quarter worth about $32,000. Heck Capital Advisors LLC bought a new stake in shares of CRH in the fourth quarter valued at about $32,000. Colonial Trust Co SC bought a new stake in shares of CRH in the fourth quarter valued at about $37,000. Finally, GW&K Investment Management LLC lifted its holdings 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 purchasing an additional 208 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. DA Davidson restated a "neutral" rating and issued a $105.00 price target (down from $120.00) on shares of CRH in a report on Thursday, July 10th. JPMorgan Chase & Co. assumed coverage on CRH in a report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price target on the stock. Sanford C. Bernstein assumed coverage on CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price target on the stock. Morgan Stanley restated an "overweight" rating on shares of CRH in a report on Tuesday, September 2nd. Finally, Vertical Research upgraded CRH to a "strong-buy" rating in a report on Friday, August 1st. Two equities 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. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $114.64.

CRH Stock Up 0.3%

Shares of NYSE:CRH traded up $0.37 during midday trading on Wednesday, reaching $111.09. The company had a trading volume of 1,753,675 shares, compared to its average volume of 5,428,259. The business's 50 day moving average price is $103.44 and its 200 day moving average price is $96.40. The stock has a market cap of $74.72 billion, a PE ratio of 23.22, a P/E/G ratio of 1.45 and a beta of 1.31. Crh Plc has a 1-year low of $76.75 and a 1-year high of $114.40.

CRH (NYSE:CRH - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. CRH's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. On average, research analysts expect that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

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

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.