The Manufacturers Life Insurance Company Has $85.04 Million Holdings in Crh Plc $CRH

Key Points

• The Manufacturers Life Insurance Company increased its holdings in CRH Plc by 6.2% during the first quarter, now owning approximately 0.14% of the company valued at $85.04 million.
• CRH reported quarterly earnings of $1.94 per share, missing analysts' expectations, with revenue of $10.21 billion which also fell short of forecasts.
• The company declared a quarterly dividend of $0.37 per share, with a payout ratio of 23.22%, expected to yield 1.3% annually.

The Manufacturers Life Insurance Company increased its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 6.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 967,225 shares of the construction company's stock after purchasing an additional 56,121 shares during the quarter. The Manufacturers Life Insurance Company owned 0.14% of CRH worth $85,042,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC bought a new position in CRH in the 4th quarter worth approximately $28,000. Park Square Financial Group LLC acquired a new position in CRH in the fourth quarter worth approximately $32,000. Heck Capital Advisors LLC bought a new stake in shares of CRH during the fourth quarter valued at approximately $32,000. Colonial Trust Co SC bought a new stake in shares of CRH during the fourth quarter worth approximately $37,000. Finally, GW&K Investment Management LLC raised its stake in shares of CRH by 86.7% during the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after buying an additional 208 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRH has been the subject of a number of research reports. Sanford C. Bernstein started coverage on CRH in a research note on Tuesday, May 13th. They set an "outperform" rating and a $115.00 target price for the company. Vertical Research upgraded CRH to a "strong-buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. began coverage on CRH in a research note on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price objective on the stock. Morgan Stanley restated an "overweight" rating on shares of CRH in a research note on Tuesday. Finally, DA Davidson restated a "neutral" rating and set a $105.00 price objective (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $114.64.

CRH Stock Performance

Shares of NYSE CRH traded down $0.65 during trading hours on Thursday, hitting $111.26. 2,037,776 shares of the stock were exchanged, compared to its average volume of 5,478,644. The company's fifty day simple moving average is $101.82 and its two-hundred day simple moving average is $96.30. The company has a market cap of $74.84 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. Crh Plc has a 1-year low of $76.75 and a 1-year high of $114.40.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data 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 company had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.CRH'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 earned $1.88 earnings per share. As a group, sell-side analysts expect that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors 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 annualized dividend and a yield of 1.3%. CRH's dividend payout ratio (DPR) is currently 23.22%.

About CRH

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.