Morningstar Investment Management LLC Makes New $584,000 Investment in Crh Plc $CRH

Key Points

• Morningstar Investment Management LLC has made a new investment in Crh Plc, acquiring 6,363 shares valued at approximately $584,000 during the 2nd quarter.
• Several large investors have increased their positions in CRH recently, with hedge funds and other institutional investors now owning 62.50% of the company's stock.
• The company declared a quarterly dividend of $0.37, representing an annual yield of 1.3%, and had a net margin of 9.09% for the last quarter.

Morningstar Investment Management LLC bought a new position in shares of Crh Plc (NYSE:CRH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 6,363 shares of the construction company's stock, valued at approximately $584,000.

Other large investors have also modified their holdings of the company. Park Place Capital Corp grew its position in CRH by 59.9% during the 2nd quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock worth $29,000 after purchasing an additional 115 shares during the last quarter. GW&K Investment Management LLC grew its position in CRH by 86.7% during 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 during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of CRH during the first quarter valued at $47,000. Richardson Financial Services Inc. grew its holdings in shares of CRH by 29.4% during the second quarter. Richardson Financial Services Inc. now owns 678 shares of the construction company's stock valued at $63,000 after buying an additional 154 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of CRH by 44.6% during the first quarter. Deseret Mutual Benefit Administrators now owns 730 shares of the construction company's stock valued at $64,000 after buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Trading Up 1.4%

CRH stock opened at $117.71 on Tuesday. The stock's 50 day simple moving average is $112.86 and its two-hundred day simple moving average is $99.39. Crh Plc has a 12 month low of $76.75 and a 12 month high of $121.88. The firm has a market cap of $79.18 billion, a PE ratio of 24.62, a P/E/G ratio of 1.64 and a beta of 1.32.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). The company 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%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 earnings per share. On average, equities research analysts forecast that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Friday, August 22nd were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. CRH's dividend payout ratio (DPR) is currently 23.22%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. began coverage on CRH in a research note on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price target on the stock. Bank of America initiated coverage on CRH in a research report on Friday, September 26th. They issued a "buy" rating and a $128.00 target price on the stock. Jefferies Financial Group raised shares of CRH to a "strong-buy" rating in a report on Monday, September 22nd. Truist Financial upped their price objective on shares of CRH from $125.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Finally, Morgan Stanley set a $134.00 price target on shares of CRH in a report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, CRH presently has an average rating of "Buy" and an average price target of $126.21.

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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