Zurich Insurance Group Ltd FI Has $37.02 Million Holdings in Crh Plc $CRH

Key Points

• Zurich Insurance Group Ltd FI reduced its stake in CRH Plc by 65.3%, selling 793,191 shares, leaving it with 422,175 shares valued at approximately $37 million.
• CRH has received a mix of ratings from analysts, with two analysts rating it as a Strong Buy and others giving it an average price target of $114.64.
• The construction company recently announced a dividend of $0.37 per share, representing an annualized yield of 1.3%, with a payout ratio of 23.22%.

Zurich Insurance Group Ltd FI decreased its position in shares of Crh Plc (NYSE:CRH - Free Report) by 65.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 422,175 shares of the construction company's stock after selling 793,191 shares during the quarter. Zurich Insurance Group Ltd FI owned approximately 0.06% of CRH worth $37,021,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in CRH during the 1st quarter worth $744,000. Massachusetts Financial Services Co. MA lifted its holdings in CRH by 43.2% during 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 in the last quarter. Hsbc Holdings PLC lifted its holdings in CRH by 100.2% during the 1st quarter. Hsbc Holdings PLC now owns 452,776 shares of the construction company's stock worth $39,318,000 after buying an additional 226,602 shares in the last quarter. GAMMA Investing LLC lifted its holdings in CRH by 27.4% during the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the construction company's stock worth $169,000 after buying an additional 413 shares in the last quarter. Finally, National Pension Service lifted its stake in shares of CRH by 8.6% in the 1st quarter. National Pension Service now owns 2,154,053 shares of the construction company's stock valued at $189,492,000 after purchasing an additional 170,702 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Price Performance

CRH stock traded down $1.03 during trading hours on Friday, reaching $113.44. 2,974,055 shares of the stock were exchanged, compared to its average volume of 3,597,984. The firm's 50-day moving average is $104.52 and its 200-day moving average is $96.69. The company has a market cap of $76.31 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.49 and a beta of 1.31. Crh Plc has a 12 month low of $76.75 and a 12 month high of $114.83.

CRH (NYSE:CRH - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). The firm had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.CRH's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $1.88 EPS. As a group, equities research analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH's dividend payout ratio (DPR) is 23.22%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein increased their price target on CRH from $115.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday. Morgan Stanley reissued an "overweight" rating on shares of CRH in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. assumed coverage on CRH in a research note on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price target on the stock. DA Davidson reissued a "neutral" rating and issued a $105.00 price target (down previously from $120.00) on shares of CRH in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $112.00 price target (up previously from $108.00) on shares of CRH in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, CRH currently has an average rating of "Buy" and a consensus target price of $116.00.

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.