New York State Teachers Retirement System Boosts Holdings in Crh Plc $CRH

Key Points

• The New York State Teachers Retirement System increased its holdings in CRH Plc by 15.7%, bringing its total shares to 29,091 and valued at approximately $2.67 million.
• Multiple financial institutions have raised their price targets on CRH, with Royal Bank of Canada increasing its target from $112.00 to $152.00, reflecting positive analyst sentiment about the company's growth potential.
• CRH recently declared a quarterly dividend of $0.37 per share, translating to an annualized dividend of $1.48 with a yield of 1.3%.

New York State Teachers Retirement System boosted its position in shares of Crh Plc (NYSE:CRH - Free Report) by 15.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,091 shares of the construction company's stock after acquiring an additional 3,952 shares during the period. New York State Teachers Retirement System's holdings in CRH were worth $2,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRH. GAMMA Investing LLC lifted its position in CRH by 27.4% during the first quarter. GAMMA Investing LLC now owns 1,919 shares of the construction company's stock valued at $169,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. lifted its position in CRH by 86.9% during the first quarter. Blue Trust Inc. now owns 2,546 shares of the construction company's stock valued at $224,000 after acquiring an additional 1,184 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in CRH by 13.9% during the first quarter. Oppenheimer & Co. Inc. now owns 29,880 shares of the construction company's stock valued at $2,629,000 after acquiring an additional 3,648 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in CRH by 4.8% during the first quarter. Asset Management One Co. Ltd. now owns 257,574 shares of the construction company's stock valued at $22,659,000 after acquiring an additional 11,685 shares during the last quarter. Finally, Keudell Morrison Wealth Management purchased a new stake in CRH during the first quarter valued at approximately $225,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

CRH has been the subject of a number of analyst reports. Royal Bank Of Canada increased their target price on shares of CRH from $112.00 to $152.00 and gave the company an "outperform" rating in a research report on Wednesday, October 1st. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research note on Friday, August 1st. UBS Group initiated coverage on shares of CRH in a research note on Tuesday, October 14th. They set a "buy" rating and a $138.00 price target on the stock. Truist Financial upped their price target on shares of CRH from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company upgraded shares of CRH to a "strong-buy" rating in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $127.71.

CRH Trading Up 0.7%

Shares of NYSE CRH opened at $118.26 on Wednesday. The stock has a market cap of $79.55 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.66 and a beta of 1.32. Crh Plc has a 52 week low of $76.75 and a 52 week high of $121.88. The company's 50-day moving average price is $114.40 and its 200 day moving average price is $100.60.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). The business 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.88 earnings per share. As a group, research analysts expect that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd were paid 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 was Friday, August 22nd. CRH's dividend payout ratio (DPR) is currently 23.22%.

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.

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