VIRGINIA RETIREMENT SYSTEMS ET Al Invests $4.95 Million in Crh Plc $CRH

Key Points

• Virginia Retirement Systems acquired 46,250 CRH shares valued at approximately $4.95 million during the second quarter. Institutional investors collectively own 62.5% of the company.
• CRH reported quarterly EPS of $2.21, beating estimates of $2.02, while revenue rose 5.6% year over year to $10.78 billion. The company declared a quarterly dividend of $0.39 per share, representing a 1.7% annualized yield.
• Despite CRH shares opening at $90.58—near their 52-week low—analysts maintain a consensus Buy rating with an average price target of $140.54.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Crh Plc (NYSE:CRH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 46,250 shares of the construction company's stock, valued at approximately $4,949,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of CRH during the 4th quarter worth about $33,000. Continuum Advisory LLC acquired a new position in CRH in the 2nd quarter worth about $29,000. Meeder Asset Management Inc. raised its holdings in CRH by 29,400.0% in the 4th quarter. Meeder Asset Management Inc. now owns 295 shares of the construction company's stock worth $37,000 after purchasing an additional 294 shares during the period. Elyxium Wealth LLC purchased a new position in CRH during the fourth quarter worth approximately $37,000. Finally, Bell Investment Advisors Inc boosted its position in CRH by 51.2% during the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company's stock worth $32,000 after purchasing an additional 103 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Stock Performance

Shares of CRH opened at $90.58 on Wednesday. Crh Plc has a one year low of $90.21 and a one year high of $131.55. The stock has a market capitalization of $60.26 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.71 and a beta of 1.33. The stock has a 50 day moving average price of $99.07 and a 200 day moving average price of $105.92.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the prior year, the company earned $1.94 EPS. The firm's revenue was up 5.6% compared to the same quarter last year. On average, analysts predict that Crh Plc will post 5.9 earnings per share for the current year.

CRH Announces Dividend

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 given a dividend of $0.39 per share. The ex-dividend date is Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 1.7%. CRH's payout ratio is presently 27.51%.

Wall Street Analysts Forecast Growth

CRH has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on CRH from $135.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Jefferies Financial Group lifted their price target on shares of CRH from $149.00 to $165.60 and gave the company a "buy" rating in a research note on Friday, June 26th. Stephens cut their price target on shares of CRH from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Truist Financial decreased their price objective on shares of CRH from $140.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Finally, DA Davidson started coverage on shares of CRH in a research report on Monday, August 24th. They issued a "buy" rating and a $137.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $140.54.

CRH Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.

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