State of New Jersey Common Pension Fund D Has $20.45 Million Stock Holdings in Crh Plc (NYSE:CRH)

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Crh Plc by 8.4%, now holding 232,444 shares valued at approximately $20.45 million.
• CRH recently announced a quarterly dividend of $0.37, which will be paid on September 24th, contributing to a 1.3% dividend yield.
• Despite reporting a miss in earnings for the last quarter, CRH's revenue grew by 5.7% year-over-year, and analysts forecast an EPS of 5.47 for the current year.

State of New Jersey Common Pension Fund D decreased its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,444 shares of the construction company's stock after selling 21,238 shares during the period. State of New Jersey Common Pension Fund D's holdings in CRH were worth $20,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Diversify Advisory Services LLC boosted its position in shares of CRH by 5.0% during the 1st quarter. Diversify Advisory Services LLC now owns 2,572 shares of the construction company's stock valued at $240,000 after purchasing an additional 123 shares in the last quarter. Callan Family Office LLC boosted its position in shares of CRH by 4.4% during the 1st quarter. Callan Family Office LLC now owns 3,074 shares of the construction company's stock valued at $270,000 after purchasing an additional 129 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of CRH by 1.7% during the 1st quarter. Yousif Capital Management LLC now owns 8,196 shares of the construction company's stock valued at $721,000 after purchasing an additional 139 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of CRH by 0.9% during the 1st quarter. Fifth Third Bancorp now owns 15,257 shares of the construction company's stock valued at $1,342,000 after purchasing an additional 140 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its position in shares of CRH by 1.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 10,387 shares of the construction company's stock valued at $914,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Stock Down 0.9%

Shares of CRH stock opened at $110.79 on Friday. The company has a market cap of $74.52 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26. Crh Plc has a 52 week low of $76.75 and a 52 week high of $113.95. The business has a 50 day moving average price of $96.13 and a 200-day moving average price of $95.38.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.12). The company had revenue of $10.21 billion during 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 period last year, the company earned $1.88 earnings per share. As a group, research analysts anticipate that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. CRH's dividend payout ratio is 23.22%.

Analyst Upgrades and Downgrades

CRH has been the topic of several research analyst reports. Sanford C. Bernstein initiated coverage on CRH in a research report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 target price on the stock. The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Vertical Research upgraded CRH to a "strong-buy" rating in a report on Friday, August 1st. DA Davidson reiterated a "neutral" rating and issued a $105.00 price target (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of CRH in a report on Friday, August 8th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, CRH has an average rating of "Buy" and a consensus target price of $113.18.

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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