Prime Capital Investment Advisors LLC Lowers Position in Crh Plc $CRH

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in CRH Plc by 77.5%, holding only 2,753 shares after selling 9,508 shares in the second quarter.
• Vanguard Group Inc. increased its position by 62.8% to become a significant stakeholder, owning shares worth over $5.6 billion.
• CRH's last quarterly earnings report indicated an EPS of $1.94, falling short of estimates, with a revenue of $10.21 billion for the quarter.

Prime Capital Investment Advisors LLC lessened its position in Crh Plc (NYSE:CRH - Free Report) by 77.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,753 shares of the construction company's stock after selling 9,508 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in CRH were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of CRH by 62.8% in the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock valued at $5,608,567,000 after purchasing an additional 24,591,538 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of CRH by 43.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after purchasing an additional 3,108,416 shares during the period. Bank of New York Mellon Corp raised its stake in CRH by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 8,830,489 shares of the construction company's stock valued at $776,818,000 after buying an additional 221,038 shares during the last quarter. Boston Partners raised its stake in CRH by 5.9% during the first quarter. Boston Partners now owns 8,822,801 shares of the construction company's stock valued at $775,349,000 after buying an additional 493,796 shares during the last quarter. Finally, Amundi raised its stake in CRH by 11.8% during the first quarter. Amundi now owns 7,979,264 shares of the construction company's stock valued at $689,009,000 after buying an additional 843,806 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Performance

NYSE:CRH opened at $116.21 on Monday. The stock has a 50-day simple moving average of $112.47 and a two-hundred day simple moving average of $99.18. Crh Plc has a 52-week low of $76.75 and a 52-week high of $121.88. The firm has a market capitalization of $78.17 billion, a PE ratio of 24.31, a P/E/G ratio of 1.64 and a beta of 1.32.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The company had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the prior year, the firm posted $1.88 EPS. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts forecast that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders 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 payout ratio is currently 23.22%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CRH shares. Weiss Ratings reiterated a "buy (b)" rating on shares of CRH in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on CRH from $112.00 to $152.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Truist Financial lifted their price objective on CRH from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Bank of America started coverage on CRH in a research note on Friday, September 26th. They set a "buy" rating and a $128.00 price objective for the company. Finally, DA Davidson reiterated a "neutral" rating and set a $105.00 price objective (down previously from $120.00) on shares of CRH in a research note on Thursday, July 10th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $127.21.

CRH Company 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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