Nordea Investment Management AB Buys 430,264 Shares of Crh Plc $CRH

Key Points

• Nordea Investment Management AB increased its ownership in CRH Plc by 14.6%, acquiring an additional 430,264 shares, bringing its total to 3,369,259 shares worth approximately $308.9 million.
• Multiple analysts have raised their price targets for CRH, with Sanford C. Bernstein increasing it from $115.00 to $130.00 and rating it as "outperform."
• CRH declared a quarterly dividend of $0.37 per share, translating to an annual yield of 1.3%, and the company's dividend payout ratio is currently 23.22%.

Nordea Investment Management AB raised its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 14.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,369,259 shares of the construction company's stock after purchasing an additional 430,264 shares during the period. Nordea Investment Management AB owned 0.50% of CRH worth $308,927,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CRH. Yousif Capital Management LLC boosted its holdings in shares of CRH by 1.7% during the 1st quarter. Yousif Capital Management LLC now owns 8,196 shares of the construction company's stock valued at $721,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of CRH by 27.4% in the 1st 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. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of CRH by 1,032.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,310 shares of the construction company's stock valued at $16,830,000 after acquiring an additional 174,416 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in shares of CRH by 11.8% in the 1st quarter. Sowell Financial Services LLC now owns 11,228 shares of the construction company's stock valued at $988,000 after acquiring an additional 1,181 shares during the last quarter. Finally, Sagespring Wealth Partners LLC bought a new position in shares of CRH in the 1st quarter valued at about $281,000. Institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Sanford C. Bernstein increased their price target on shares of CRH from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. Jefferies Financial Group raised shares of CRH to a "strong-buy" rating in a report on Monday, September 22nd. Vertical Research raised shares of CRH to a "strong-buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. assumed coverage on shares of CRH in a report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price target for the company. Finally, Bank of America started coverage on shares of CRH in a report on Friday, September 26th. They issued a "buy" rating and a $128.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $126.21.

CRH Price Performance

CRH stock opened at $116.94 on Friday. Crh Plc has a 1-year low of $76.75 and a 1-year high of $121.88. The firm has a market capitalization of $78.66 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.32. The company's 50-day moving average is $113.92 and its 200 day moving average is $99.86.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results 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 company had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.The business's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $1.88 earnings per share. Research analysts anticipate that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

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

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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