Todd Asset Management LLC Sells 3,888 Shares of Crh Plc (NYSE:CRH)

Key Points

• Todd Asset Management LLC reduced its stake in CRH Plc by 0.6%, owning 618,274 shares worth approximately $54.39 million after selling 3,888 shares.
• CRH reported earnings of $1.94 per share, missing analysts' consensus estimates of $2.06, along with revenue of $10.21 billion for the quarter.
• Several analysts have given CRH an average rating of "Buy," with a consensus target price of $113.18.

Todd Asset Management LLC cut its holdings in Crh Plc (NYSE:CRH - Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 618,274 shares of the construction company's stock after selling 3,888 shares during the quarter. CRH comprises 1.3% of Todd Asset Management LLC's portfolio, making the stock its 18th largest position. Todd Asset Management LLC owned approximately 0.09% of CRH worth $54,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in shares of CRH during the first quarter worth $744,000. Massachusetts Financial Services Co. MA lifted its position in CRH by 43.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after acquiring an additional 3,108,416 shares in the last quarter. GAMMA Investing LLC lifted its position in CRH by 27.4% in the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the construction company's stock valued at $169,000 after acquiring an additional 413 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in CRH by 211.3% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,411,543 shares of the construction company's stock valued at $123,601,000 after acquiring an additional 958,061 shares in the last quarter. Finally, Exane Asset Management lifted its position in CRH by 22.2% in the 1st quarter. Exane Asset Management now owns 226,087 shares of the construction company's stock valued at $19,889,000 after acquiring an additional 41,013 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research report on Friday. Vertical Research raised shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. DA Davidson reaffirmed a "neutral" rating and issued a $105.00 price objective (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $112.00 price target (up from $108.00) on shares of CRH in a research note on Friday. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, CRH has a consensus rating of "Buy" and a consensus price target of $113.18.

CRH Trading Up 4.4%

Shares of CRH stock traded up $4.73 during trading on Tuesday, hitting $112.15. 7,540,199 shares of the stock were exchanged, compared to its average volume of 4,542,755. The stock has a market capitalization of $75.77 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The company has a fifty day moving average price of $94.92 and a 200-day moving average price of $95.07. Crh Plc has a 1-year low of $76.75 and a 1-year high of $112.19.

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 for the quarter, missing the consensus estimate of $2.06 by ($0.12). The firm 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%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 earnings per share. Equities research analysts forecast that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

The company 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 dividend of $0.37 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. CRH's payout ratio 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.