Crh Plc $CRH Shares Sold by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC reduced its stake in CRH Plc by 3.9%, selling 7,620 shares, and currently holds 188,172 shares valued at approximately $17.87 million.
• CRH recently reported earnings per share (EPS) of $1.94 for the quarter, which fell short of the consensus estimate of $2.06, while also experiencing a 5.7% increase in revenue year-over-year.
• A recent dividend of $0.37 per share was announced, with a dividend yield of 1.3%, and the next payment is scheduled for September 24th.

NorthCrest Asset Manangement LLC reduced its position in Crh Plc (NYSE:CRH - Free Report) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,172 shares of the construction company's stock after selling 7,620 shares during the period. NorthCrest Asset Manangement LLC's holdings in CRH were worth $17,865,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in CRH during the fourth quarter valued at approximately $28,000. Park Square Financial Group LLC bought a new position in CRH in the fourth quarter worth approximately $32,000. Heck Capital Advisors LLC bought a new position in CRH in the fourth quarter worth approximately $32,000. GW&K Investment Management LLC grew its stake in CRH by 86.7% in the first 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 in the last quarter. Finally, Ransom Advisory Ltd bought a new stake in CRH during the 1st quarter valued at $47,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Stock Up 0.5%

NYSE CRH traded up $0.59 on Friday, reaching $113.05. The stock had a trading volume of 5,842,217 shares, compared to its average volume of 3,349,817. Crh Plc has a 12-month low of $76.75 and a 12-month high of $114.83. The stock has a fifty day moving average price of $106.24 and a two-hundred day moving average price of $97.06. The firm has a market capitalization of $76.04 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.47 and a beta of 1.31.

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 for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%.The company had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. During the same period in the prior year, the company posted $1.88 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. Sell-side analysts forecast that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on CRH shares. Vertical Research raised CRH to a "strong-buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. initiated coverage on CRH in a research note on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 target price for the company. DA Davidson restated a "neutral" rating and issued a $105.00 target price (down previously from $120.00) on shares of CRH in a research note on Thursday, July 10th. Sanford C. Bernstein lifted their price objective on CRH from $115.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of CRH in a research note on Tuesday, September 2nd. 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 stock. According to data from MarketBeat, CRH currently has an average rating of "Buy" and an average price target of $116.00.

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.