Reliant Investment Management LLC Makes New Investment in Crh Plc $CRH

Key Points

• Reliant Investment Management purchased 48,276 CRH shares worth approximately $4.0 million in the third quarter, making CRH 1.4% of its portfolio. Institutional investors collectively own 62.5% of the company.
• CRH reported quarterly revenue of $10.78 billion and EPS of $2.21, exceeding analyst expectations, while revenue increased 5.6% year over year.
• CRH shares opened at $79.29, near their 52-week low, despite analysts maintaining a consensus “Buy” rating and an average price target of $127.61. The company also pays a $1.56 annualized dividend, yielding about 2.0%.

Reliant Investment Management LLC purchased a new stake in Crh Plc (NYSE:CRH - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 48,276 shares of the construction company's stock, valued at approximately $3,997,000. CRH makes up 1.4% of Reliant Investment Management LLC's investment portfolio, making the stock its 28th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in CRH. Continuum Advisory LLC bought a new position in CRH in the 2nd quarter worth about $29,000. Bell Investment Advisors Inc increased its position in shares of CRH by 51.2% during the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company's stock valued at $32,000 after buying an additional 103 shares during the period. Cedar Mountain Advisors LLC bought a new stake in shares of CRH during the first quarter valued at about $38,000. Anchor Investment Management LLC bought a new stake in shares of CRH during the second quarter valued at about $40,000. Finally, Eastern Bank lifted its holdings in shares of CRH by 36.5% in the second quarter. Eastern Bank now owns 550 shares of the construction company's stock worth $59,000 after buying an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Down 1.1%

CRH stock opened at $79.29 on Thursday. Crh Plc has a 52 week low of $78.62 and a 52 week high of $131.55. The business has a 50-day simple moving average of $89.87 and a 200 day simple moving average of $101.22. The stock has a market cap of $52.75 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.45 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last announced its earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.19. CRH had a return on equity of 15.76% and a net margin of 9.93%. The business had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the company earned $1.94 EPS. The company's quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that Crh Plc will post 5.83 earnings per share for the current year.

CRH Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.56 annualized dividend and a dividend yield of 2.0%. CRH's payout ratio is presently 27.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRH shares. JPMorgan Chase & Co. restated an "overweight" rating and issued a $115.00 price objective (down from $140.00) on shares of CRH in a research report on Tuesday. UBS Group decreased their target price on shares of CRH from $147.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, September 22nd. Rothschild & Co Redburn decreased their target price on shares of CRH from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, October 1st. BNP Paribas Exane lowered their target price on shares of CRH from $157.00 to $110.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 16th. Finally, Jefferies Financial Group cut their price target on shares of CRH from $159.50 to $126.50 and set a "buy" rating for the company in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $127.61.

CRH Company Profile

CRH plc is a global building materials company headquartered in Ireland. Formerly known as Cement Roadstone Holdings, the company was formed in 1970 through the merger of Cement Limited and Roadstone Limited. CRH provides materials, products and services used in residential, commercial and infrastructure construction.

Its portfolio includes aggregates, asphalt, ready-mixed concrete, cement, architectural products, precast concrete, paving and construction accessories. The company serves customers across the construction value chain, including contractors, distributors, homebuilders and infrastructure developers.

CRH operates primarily in North America and Europe, with businesses spanning the United States, Canada and multiple European markets.

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