Swiss National Bank Trims Stock Position in CRH PLC (NYSE:CRH)

Key Points

• The Swiss National Bank reduced its stake in CRH Plc by 0.7%, selling 12,700 shares and owning 1,916,160 shares, valued at approximately $168.57 million.
• CRH reported second-quarter earnings of $1.94 EPS, missing estimates, with revenues of $10.21 billion compared to expectations of $10.27 billion.
• The company declared a quarterly dividend of $0.37 per share, with a record date of August 22nd, reflecting an annualized yield of 1.4%.

Swiss National Bank trimmed its position in shares of CRH PLC (NYSE:CRH - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,916,160 shares of the construction company's stock after selling 12,700 shares during the quarter. Swiss National Bank owned approximately 0.28% of CRH worth $168,565,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CRH. Orion Capital Management LLC purchased a new position in shares of CRH during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in CRH in the 4th quarter worth approximately $32,000. Park Square Financial Group LLC purchased a new position in CRH in the 4th quarter worth approximately $32,000. Colonial Trust Co SC purchased a new position in CRH in the 4th quarter worth approximately $37,000. Finally, GW&K Investment Management LLC raised its holdings in CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after acquiring an additional 208 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

CRH Trading Down 1.7%

CRH stock traded down $1.81 during mid-day trading on Monday, hitting $107.49. The stock had a trading volume of 4,483,631 shares, compared to its average volume of 4,428,734. The firm has a market capitalization of $72.63 billion, a P/E ratio of 21.31, a P/E/G ratio of 1.40 and a beta of 1.26. The firm's 50 day moving average is $94.17 and its 200 day moving average is $94.91. CRH PLC has a one year low of $76.75 and a one year high of $110.97.

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

CRH Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 22nd. CRH's dividend payout ratio is 23.22%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRH. Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 price objective (up from $108.00) on shares of CRH in a report on Friday. The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a report on Friday, August 1st. Sanford C. Bernstein began coverage on CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price target on the stock. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research report on Friday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target 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.