TD Waterhouse Canada Inc. Sells 126,841 Shares of Crh Plc $CRH

Key Points

• TD Waterhouse Canada reduced its CRH stake by 44%, selling 126,841 shares during the second quarter and retaining 161,662 shares valued at approximately $17.0 million. Institutional investors collectively own 62.5% of CRH.
• CRH reported quarterly earnings of $2.21 per share, exceeding the $2.02 analyst estimate, while revenue rose 5.6% year over year to $10.78 billion. The company also declared a quarterly dividend of $0.39, representing a 1.7% annualized yield.
• Despite CRH trading at $94.19, below its recent moving averages, analysts maintain a consensus “Buy” rating with an average price target of $140.57.

TD Waterhouse Canada Inc. lessened its holdings in Crh Plc (NYSE:CRH - Free Report) by 44.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,662 shares of the construction company's stock after selling 126,841 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in CRH were worth $17,002,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CRH. NewEdge Advisors LLC increased its holdings in shares of CRH by 158.5% in the first quarter. NewEdge Advisors LLC now owns 8,670 shares of the construction company's stock worth $763,000 after buying an additional 5,316 shares during the period. Empowered Funds LLC boosted its holdings in CRH by 5.3% during the 1st quarter. Empowered Funds LLC now owns 13,178 shares of the construction company's stock valued at $1,159,000 after acquiring an additional 658 shares during the period. Sivia Capital Partners LLC boosted its holdings in CRH by 58.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,279 shares of the construction company's stock valued at $393,000 after acquiring an additional 1,579 shares during the period. Sei Investments Co. grew its position in CRH by 18.9% during the 2nd quarter. Sei Investments Co. now owns 228,288 shares of the construction company's stock worth $20,957,000 after acquiring an additional 36,238 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in CRH by 0.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 316,818 shares of the construction company's stock worth $29,084,000 after purchasing an additional 2,348 shares during the period. 62.50% of the stock is owned by institutional investors.

CRH Price Performance

CRH opened at $94.19 on Friday. The business has a 50 day simple moving average of $99.69 and a two-hundred day simple moving average of $106.49. The firm has a market capitalization of $62.66 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.67 and a beta of 1.33. Crh Plc has a one year low of $90.21 and a one year high of $131.55.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period last year, the company earned $1.94 EPS. The business's quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Crh Plc will post 5.9 EPS for the current fiscal year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 1.7%. CRH's dividend payout ratio (DPR) is presently 27.51%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Sanford C. Bernstein reiterated an "outperform" rating on shares of CRH in a research report on Tuesday, June 23rd. Wells Fargo & Company cut their target price on shares of CRH from $135.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. Truist Financial decreased their target price on shares of CRH from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. DA Davidson initiated coverage on shares of CRH in a report on Monday, August 24th. They set a "buy" rating and a $137.00 price target for the company. Finally, Stephens dropped their price target on shares of CRH from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $140.57.

CRH Company Profile

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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