Northwest & Ethical Investments L.P. Decreases Holdings in Crh Plc $CRH

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in CRH Plc by 48.7%, owning 21,002 shares valued at approximately $1.85 million after the sale of 19,914 shares.
• Analysts have an average rating of "Buy" for CRH, with a consensus target price of $113.18, following multiple rating upgrades and coverage initiations in recent weeks.
• CRH announced a quarterly dividend of $0.37 per share, scheduled to be paid on September 24, representing an annualized yield of 1.3%.

Northwest & Ethical Investments L.P. trimmed its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 48.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,002 shares of the construction company's stock after selling 19,914 shares during the period. Northwest & Ethical Investments L.P.'s holdings in CRH were worth $1,848,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on CRH. The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. DA Davidson restated a "neutral" rating and issued a $105.00 price objective (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Royal Bank Of Canada reiterated an "outperform" rating and set a $112.00 target price (up from $108.00) on shares of CRH in a report on Friday, August 8th. Morgan Stanley reiterated an "overweight" rating on shares of CRH in a report on Friday, August 8th. Finally, Sanford C. Bernstein initiated coverage on shares of CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, CRH has an average rating of "Buy" and a consensus price target of $113.18.

CRH Price Performance

NYSE CRH traded up $2.5360 during mid-day trading on Friday, reaching $113.2560. The stock had a trading volume of 2,965,952 shares, compared to its average volume of 4,818,760. Crh Plc has a 1 year low of $76.75 and a 1 year high of $113.95. The stock has a market cap of $76.18 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The company has a fifty day moving average price of $98.10 and a 200 day moving average price of $95.82.

CRH (NYSE:CRH - Get Free Report) last posted 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). CRH had a return on equity of 15.68% and a net margin of 9.09%.The company had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.27 billion. During the same period last year, the firm posted $1.88 EPS. The company's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities research analysts expect that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH's dividend payout ratio 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.