QRG Capital Management Inc. Buys 14,091 Shares of Crh Plc $CRH

Key Points

• QRG Capital Management increased its CRH stake by 7.7% in the second quarter, purchasing 14,091 shares and bringing its total holdings to 196,860 shares valued at approximately $21.1 million.
• Institutional investors own 62.5% of CRH, with several major funds—including Geode Capital, Norges Bank, and Amundi—also expanding their positions.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $138.77, despite CRH shares opening at $85.15 and recently declining 3.3%.

QRG Capital Management Inc. increased its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,860 shares of the construction company's stock after purchasing an additional 14,091 shares during the quarter. QRG Capital Management Inc.'s holdings in CRH were worth $21,064,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in CRH by 67.3% in the 4th quarter. Geode Capital Management LLC now owns 14,709,575 shares of the construction company's stock worth $1,827,252,000 after purchasing an additional 5,916,930 shares in the last quarter. Norges Bank bought a new stake in shares of CRH during the fourth quarter worth about $1,476,939,000. Royal Bank of Canada increased its stake in shares of CRH by 2.5% in the fourth quarter. Royal Bank of Canada now owns 10,808,439 shares of the construction company's stock valued at $1,348,894,000 after buying an additional 262,175 shares during the period. Capital World Investors raised its holdings in CRH by 23.7% in the 4th quarter. Capital World Investors now owns 6,155,899 shares of the construction company's stock valued at $768,300,000 after buying an additional 1,178,352 shares during the last quarter. Finally, Amundi raised its holdings in CRH by 74.7% in the 1st quarter. Amundi now owns 5,965,814 shares of the construction company's stock valued at $627,126,000 after buying an additional 2,550,178 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on CRH shares. Sanford C. Bernstein restated an "outperform" rating on shares of CRH in a research report on Tuesday, June 23rd. DA Davidson began coverage on shares of CRH in a research note on Monday, August 24th. They issued a "buy" rating and a $137.00 price objective on the stock. Truist Financial decreased their price objective on CRH from $140.00 to $130.00 and set a "buy" rating for the company in a report on Friday, July 31st. Stephens lowered their target price on CRH from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Finally, UBS Group reduced their price target on CRH from $147.00 to $135.00 and set a "buy" rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CRH has an average rating of "Moderate Buy" and an average price target of $138.77.

CRH Stock Down 3.3%

Shares of NYSE CRH opened at $85.15 on Thursday. The company has a market capitalization of $56.65 billion, a PE ratio of 15.02, a P/E/G ratio of 1.60 and a beta of 1.33. Crh Plc has a twelve month low of $85.05 and a twelve month high of $131.55. The firm has a fifty day simple moving average of $95.19 and a 200 day simple moving average of $103.46.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The construction company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.19. The firm had revenue of $10.78 billion during the quarter, compared to analyst estimates of $10.68 billion. CRH had a return on equity of 15.76% and a net margin of 9.93%.The business's quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $1.94 EPS. As a group, equities analysts expect that Crh Plc will post 5.9 earnings per share for the current fiscal year.

CRH Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.56 annualized dividend and a yield of 1.8%. CRH's payout ratio is 27.51%.

CRH Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.

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