Vanguard Group Inc. Boosts Stake in Crh Plc (NYSE:CRH)

Key Points

• Vanguard Group Inc. increased its stake in Crh Plc by 62.8%, now owning 63,755,468 shares valued at approximately $5.6 billion.
• Crh Plc reported earnings per share of $1.94 for the last quarter, which was below analysts' expectations of $2.06, despite a 5.7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.37 per share, translating to a yield of 1.5%, with a payout ratio of 23.52%.

Vanguard Group Inc. increased its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,755,468 shares of the construction company's stock after purchasing an additional 24,591,538 shares during the period. Vanguard Group Inc. owned 9.43% of CRH worth $5,608,567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Thoroughbred Financial Services LLC boosted its position in CRH by 10.5% during the first quarter. Thoroughbred Financial Services LLC now owns 10,960 shares of the construction company's stock worth $964,000 after acquiring an additional 1,039 shares during the last quarter. Seelaus Asset Management LLC boosted its position in CRH by 1.3% during the first quarter. Seelaus Asset Management LLC now owns 19,500 shares of the construction company's stock worth $1,715,000 after acquiring an additional 256 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in CRH during the first quarter worth about $700,000. Raiffeisen Bank International AG increased its position in CRH by 0.5% during the first quarter. Raiffeisen Bank International AG now owns 101,587 shares of the construction company's stock worth $8,684,000 after purchasing an additional 512 shares during the last quarter. Finally, Scotia Capital Inc. increased its position in CRH by 8.5% during the first quarter. Scotia Capital Inc. now owns 67,941 shares of the construction company's stock worth $5,977,000 after purchasing an additional 5,320 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Price Performance

Shares of CRH traded up $2.64 during midday trading on Friday, reaching $109.56. The stock had a trading volume of 7,683,843 shares, compared to its average volume of 4,160,455. Crh Plc has a 1-year low of $76.75 and a 1-year high of $110.97. The company has a market cap of $74.02 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.38 and a beta of 1.26. The company's fifty day simple moving average is $94.17 and its two-hundred day simple moving average is $94.99.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $10.27 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The company's revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRH shares. Royal Bank Of Canada restated an "outperform" rating and set a $112.00 price objective (up from $108.00) on shares of CRH in a research report on Friday. Morgan Stanley restated an "overweight" rating on shares of CRH in a research report on Friday. DA Davidson reaffirmed a "neutral" rating and issued a $105.00 target price (down previously from $120.00) on shares of CRH in a research report on Thursday, July 10th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Finally, Sanford C. Bernstein began coverage on shares of CRH in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, CRH currently has an average rating of "Buy" and a consensus target price 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.