Truist Financial Corp Raises Position in Crh Plc $CRH

Key Points

• Truist Financial Corp increased its holdings in CRH Plc by 9.5% in Q2, reaching a total of 221,187 shares valued at over $20 million.
• Other significant investors such as Vanguard Group Inc. and Massachusetts Financial Services also raised their positions in CRH by 62.8% and 43.2% respectively during the 1st quarter.
• CRH's recent earnings report showed a miss on EPS estimates, posting $1.94 per share against a forecasted $2.06, while the company also announced a quarterly dividend of $0.37.

Truist Financial Corp grew its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 9.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 221,187 shares of the construction company's stock after purchasing an additional 19,123 shares during the quarter. Truist Financial Corp's holdings in CRH were worth $20,305,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of CRH by 62.8% in the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock worth $5,608,567,000 after buying an additional 24,591,538 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of 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 worth $906,424,000 after buying an additional 3,108,416 shares during the period. Bank of New York Mellon Corp raised its position in shares of CRH by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 8,830,489 shares of the construction company's stock worth $776,818,000 after buying an additional 221,038 shares during the period. Boston Partners raised its position in shares of CRH by 5.9% in the 1st quarter. Boston Partners now owns 8,822,801 shares of the construction company's stock worth $775,349,000 after buying an additional 493,796 shares during the period. Finally, Amundi raised its position in shares of CRH by 11.8% in the 1st quarter. Amundi now owns 7,979,264 shares of the construction company's stock worth $689,009,000 after buying an additional 843,806 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Price Performance

Shares of CRH stock opened at $120.01 on Friday. The business has a 50-day moving average of $110.42 and a 200-day moving average of $98.42. The company has a market capitalization of $80.72 billion, a PE ratio of 25.11, a P/E/G ratio of 1.75 and a beta of 1.32. Crh Plc has a 1-year low of $76.75 and a 1-year high of $121.88.

CRH (NYSE:CRH - Get Free Report) last announced its earnings results 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 business had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm's revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 earnings per share. On average, equities analysts expect that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.37 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 1.2%. CRH's dividend payout ratio (DPR) is currently 23.22%.

Wall Street Analysts Forecast Growth

CRH has been the topic of several research reports. UBS Group set a $152.00 target price on CRH in a research report on Wednesday. Jefferies Financial Group raised CRH to a "strong-buy" rating in a research report on Monday, September 22nd. Vertical Research raised CRH to a "strong-buy" rating in a research report on Friday, August 1st. Sanford C. Bernstein increased their target price on CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, September 11th. Finally, Truist Financial increased their target price on CRH from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $124.31.

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.

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