Russell Investments Group Ltd. Grows Stock Position in CRH PLC (NYSE:CRH)

Key Points

• Russell Investments Group Ltd. increased its holdings in CRH Plc by 9.2%, owning 755,889 shares valued at approximately $66.30 million by the end of the first quarter.
• Several institutional investors have also significantly increased their stakes in CRH, with 62.50% of the company now owned by these entities.
• CRH announced a quarterly dividend of $0.37 per share, representing an annualized yield of 1.3%, with the ex-dividend date set for August 22nd.

Russell Investments Group Ltd. increased its holdings in shares of CRH PLC (NYSE:CRH - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 755,889 shares of the construction company's stock after buying an additional 63,958 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of CRH worth $66,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRH. Vanguard Group Inc. grew its stake 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 buying an additional 24,591,538 shares during the last quarter. Nuveen LLC acquired a new position in shares of CRH in the first quarter valued at about $597,888,000. Massachusetts Financial Services Co. MA increased its holdings in shares of CRH by 43.2% in the first 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. AGF Management Ltd. increased its holdings in shares of CRH by 195.0% in the first quarter. AGF Management Ltd. now owns 3,052,011 shares of the construction company's stock valued at $268,485,000 after purchasing an additional 2,017,484 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of CRH by 72.2% in the fourth quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company's stock valued at $436,472,000 after purchasing an additional 1,978,225 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CRH shares. Sanford C. Bernstein started coverage on CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price objective on the stock. The Goldman Sachs Group reissued a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Royal Bank Of Canada reissued an "outperform" rating and issued a $112.00 price objective (up from $108.00) on shares of CRH in a report on Friday, August 8th. Morgan Stanley reissued an "overweight" rating on shares of CRH in a report on Friday, August 8th. Finally, DA Davidson reissued a "neutral" rating and issued a $105.00 price objective (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $113.18.

CRH Price Performance

CRH stock traded down $0.96 during mid-day trading on Friday, reaching $110.79. 2,780,159 shares of the company's stock were exchanged, compared to its average volume of 4,672,656. The company has a market cap of $74.52 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The stock's 50 day moving average is $96.13 and its 200 day moving average is $95.38. CRH PLC has a 12-month low of $76.75 and a 12-month high of $113.95.

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

CRH Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. CRH's dividend payout ratio is currently 23.22%.

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.