Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Crh Plc $CRH

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in CRH by 2.1% in Q4, selling 34,923 shares and leaving it with 1,621,443 shares (≈0.24%) valued at about $202.4 million.
• CRH missed quarterly estimates, reporting EPS of $1.52 vs. $2.20 expected and revenue of $9.42 billion vs. $11.15 billion, though revenue grew 6.2% year-over-year.
• CRH raised its quarterly dividend to $0.39 (annualized $1.56, yield 1.3%), and Wall Street maintains a consensus of "Moderate Buy" with an average price target of $139.69.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Crh Plc (NYSE:CRH - Free Report) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,621,443 shares of the construction company's stock after selling 34,923 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of CRH worth $202,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Board of the Pension Protection Fund purchased a new position in shares of CRH in the 4th quarter worth $25,000. Flagship Harbor Advisors LLC purchased a new position in shares of CRH in the 4th quarter worth $26,000. Harbor Investment Advisory LLC grew its stake in shares of CRH by 87.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 212 shares of the construction company's stock worth $26,000 after buying an additional 99 shares in the last quarter. United Community Bank lifted its holdings in shares of CRH by 359.6% in the 3rd quarter. United Community Bank now owns 239 shares of the construction company's stock worth $29,000 after acquiring an additional 187 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in shares of CRH in the 3rd quarter worth about $32,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Price Performance

Shares of CRH opened at $117.96 on Monday. Crh Plc has a 1-year low of $81.60 and a 1-year high of $131.55. The company has a 50-day moving average of $113.44 and a 200 day moving average of $117.94. The firm has a market capitalization of $78.82 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 2.06 and a beta of 1.35.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The construction company reported $1.52 earnings per share for the quarter, missing analysts' consensus estimates of $2.20 by ($0.68). CRH had a net margin of 10.02% and a return on equity of 15.98%. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the previous year, the business earned $1.02 EPS. The company's quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Friday, March 6th were issued a $0.39 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.56 annualized dividend and a dividend yield of 1.3%. This is an increase from CRH's previous quarterly dividend of $0.37. CRH's dividend payout ratio (DPR) is presently 28.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRH. BNP Paribas Exane upgraded shares of CRH to a "strong-buy" rating in a report on Friday, January 23rd. Citigroup raised their target price on shares of CRH from $142.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 8th. Wells Fargo & Company raised their target price on shares of CRH from $133.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, February 20th. UBS Group raised their target price on shares of CRH from $138.00 to $147.00 and gave the stock a "buy" rating in a report on Thursday, January 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of CRH from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $139.69.

About CRH

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH's core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.

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