R Squared Ltd Buys Shares of 19,043 Crh Plc $CRH

Key Points

• R Squared Ltd has acquired a new stake in CRH Plc, purchasing 19,043 shares valued at approximately $1.75 million, making it the firm’s 12th largest holding.
• CRH reported earnings per share of $1.94 for the latest quarter, missing estimates by $0.12, with revenues of $10.21 billion, slightly below expectations.
• Institutional investors currently hold 62.50% of CRH's stock, with several hedge funds significantly increasing their positions in the company during the recent quarters.

R Squared Ltd purchased a new stake in Crh Plc (NYSE:CRH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 19,043 shares of the construction company's stock, valued at approximately $1,748,000. CRH comprises approximately 1.0% of R Squared Ltd's investment portfolio, making the stock its 12th largest holding.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in CRH by 62.8% during the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock worth $5,608,567,000 after purchasing an additional 24,591,538 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 worth $906,424,000 after purchasing an additional 3,108,416 shares in the last quarter. Bank of New York Mellon Corp raised its position in CRH by 2.6% in 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 purchasing an additional 221,038 shares during the last quarter. Boston Partners boosted its stake in shares of 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 purchasing an additional 493,796 shares in the last quarter. Finally, Amundi grew its holdings in shares of CRH by 11.8% during the first quarter. Amundi now owns 7,979,264 shares of the construction company's stock worth $689,009,000 after purchasing an additional 843,806 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Stock Up 0.7%

CRH stock opened at $117.84 on Friday. The company has a market capitalization of $79.27 billion, a PE ratio of 24.65, a PEG ratio of 1.66 and a beta of 1.32. The firm's fifty day moving average is $114.58 and its 200 day moving average is $100.97. Crh Plc has a 12-month low of $76.75 and a 12-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 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.12). The company had revenue of $10.21 billion for 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%. CRH's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.88 EPS. Sell-side analysts expect that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CRH shares. Sanford C. Bernstein raised their price target on shares of CRH from $115.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. Truist Financial upped their price target on CRH from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Vertical Research raised CRH to a "strong-buy" rating in a research note on Friday, August 1st. Wells Fargo & Company raised shares of CRH to a "strong-buy" rating in a research report on Wednesday, October 8th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $105.00 price objective (down from $120.00) on shares of CRH in a research note on Thursday, July 10th. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average 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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