Phoenix Financial Ltd. Decreases Holdings in Crh Plc $CRH

Key Points

• Phoenix Financial Ltd. reduced its stake in CRH Plc by 7.2% in Q2, holding 52,081 shares worth approximately $4.78 million after selling 4,032 shares during the period.
• Despite recent adjustments by various investors, including Park Place Capital Corp and GW&K Investment Management LLC, institutional investors still own 62.50% of CRH's stock.
• CRH recently announced a quarterly dividend of $0.37 per share, translating to an annualized yield of 1.3%, and reported a net margin of 9.09% in its latest earnings data.

Phoenix Financial Ltd. decreased its holdings in Crh Plc (NYSE:CRH - Free Report) by 7.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,081 shares of the construction company's stock after selling 4,032 shares during the period. Phoenix Financial Ltd.'s holdings in CRH were worth $4,781,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Park Place Capital Corp increased its holdings in shares of CRH by 59.9% in the second quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock worth $29,000 after buying an additional 115 shares during the period. GW&K Investment Management LLC increased its stake in CRH by 86.7% in 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 period. Ransom Advisory Ltd bought a new stake in CRH in the first quarter valued at approximately $47,000. Richardson Financial Services Inc. boosted its stake 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 purchasing an additional 154 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of CRH by 44.6% in the first quarter. Deseret Mutual Benefit Administrators now owns 730 shares of the construction company's stock worth $64,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Up 0.7%

NYSE CRH opened at $118.26 on Wednesday. The firm has a market capitalization of $79.55 billion, a PE ratio of 24.74, a P/E/G ratio of 1.66 and a beta of 1.32. The stock's 50 day moving average is $114.40 and its 200 day moving average is $100.60. Crh Plc has a twelve month low of $76.75 and a twelve month high of $121.88.

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

CRH Announces Dividend

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

Analysts Set New Price Targets

CRH has been the subject of a number of recent analyst reports. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a report on Friday, August 1st. DA Davidson reaffirmed a "neutral" rating and set a $105.00 price objective (down from $120.00) on shares of CRH in a research note on Thursday, July 10th. Sanford C. Bernstein raised their target price on CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. initiated coverage on CRH in a research report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price target for the company. Finally, Truist Financial increased their price objective on CRH from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $127.71.

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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