Praxis Investment Management Inc. Has $1.47 Million Stake in Crh Plc $CRH

Key Points

• Praxis Investment Management Inc. reduced its holdings in CRH Plc by 12.2% in Q2, now owning 15,980 shares valued at approximately $1.47 million.
• Multiple institutional investors, including Park Place Capital Corp and GW&K Investment Management LLC, have significantly increased their stakes in CRH, indicating strong interest in the stock.
• Analyst ratings have improved, with Wells Fargo upgrading CRH to a "strong-buy" and target prices being raised, reflecting a positive outlook for future performance.

Praxis Investment Management Inc. trimmed its holdings in Crh Plc (NYSE:CRH - Free Report) by 12.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,980 shares of the construction company's stock after selling 2,220 shares during the period. Praxis Investment Management Inc.'s holdings in CRH were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CRH. Park Place Capital Corp raised its position in CRH by 59.9% during the second quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock valued at $29,000 after purchasing an additional 115 shares in the last quarter. GW&K Investment Management LLC raised its position in CRH by 86.7% during the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock valued at $39,000 after purchasing an additional 208 shares in the last quarter. Ransom Advisory Ltd acquired a new position in CRH during the first quarter valued at approximately $47,000. Richardson Financial Services Inc. raised its position in 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 in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in CRH by 44.6% during the first quarter. Deseret Mutual Benefit Administrators now owns 730 shares of the construction company's stock valued at $64,000 after purchasing an additional 225 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRH shares. Wells Fargo & Company upgraded shares of CRH to a "strong-buy" rating in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on shares of CRH from $112.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of CRH in a report on Wednesday, October 8th. Morgan Stanley set a $134.00 price target on shares of CRH in a report on Thursday, October 9th. Finally, Truist Financial upped their price target on shares of CRH from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Four investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $126.21.

CRH Stock Down 1.4%

NYSE CRH opened at $116.94 on Friday. The company has a market capitalization of $78.66 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.68 and a beta of 1.32. Crh Plc has a twelve month low of $76.75 and a twelve month high of $121.88. The stock has a fifty day simple moving average of $113.92 and a 200 day simple moving average of $99.86.

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). The company 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%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 earnings per share. Research analysts expect 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 was paid on Wednesday, September 24th. Investors of record on Friday, August 22nd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, August 22nd. CRH's dividend payout ratio is presently 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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