Wedmont Private Capital Acquires Shares of 2,345 CRH PLC $CRH

Key Points

• Wedmont Private Capital has acquired 2,345 shares of CRH Plc, valued at approximately $226,000, as revealed in their latest SEC filing.
• CRH's stock has received positive ratings from multiple analysts, with JP Morgan setting an "overweight" rating and a target price of $130.00.
• The company recently announced a quarterly dividend of $0.37 per share, reflecting an annualized yield of 1.3% and a payout ratio of 23.22%.

Wedmont Private Capital purchased a new position in shares of CRH PLC (NYSE:CRH - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,345 shares of the construction company's stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft acquired a new position in shares of CRH in the second quarter valued at about $1,210,000. Sivia Capital Partners LLC grew its stake in shares of CRH by 58.5% in the second quarter. Sivia Capital Partners LLC now owns 4,279 shares of the construction company's stock valued at $393,000 after acquiring an additional 1,579 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of CRH in the second quarter valued at about $246,000. Renaissance Investment Group LLC grew its stake in shares of CRH by 0.5% in the second quarter. Renaissance Investment Group LLC now owns 138,544 shares of the construction company's stock valued at $12,718,000 after acquiring an additional 654 shares in the last quarter. Finally, Little House Capital LLC grew its stake in shares of CRH by 51.3% in the second quarter. Little House Capital LLC now owns 13,461 shares of the construction company's stock valued at $1,236,000 after acquiring an additional 4,564 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CRH shares. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a report on Tuesday, September 2nd. DA Davidson reiterated a "neutral" rating and set a $105.00 price objective (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. JPMorgan Chase & Co. initiated coverage on shares of CRH in a research report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price objective for the company. Sanford C. Bernstein upped their price objective on shares of CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, September 11th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $112.00 price objective (up previously from $108.00) on shares of CRH in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $116.00.

CRH Stock Up 1.4%

CRH stock traded up $1.54 during mid-day trading on Monday, hitting $114.63. 4,590,704 shares of the stock were exchanged, compared to its average volume of 3,493,631. CRH PLC has a 12 month low of $76.75 and a 12 month high of $115.09. The firm's fifty day simple moving average is $106.24 and its two-hundred day simple moving average is $97.05. The stock has a market capitalization of $77.11 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.47 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing the consensus estimate 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%.The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.88 EPS. As a group, analysts forecast that CRH PLC will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. CRH's dividend payout ratio (DPR) is 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.