Point72 Hong Kong Ltd purchased a new stake in shares of CRH plc (NYSE:CRH - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,071 shares of the construction company's stock, valued at approximately $3,522,000.
A number of other institutional investors have also recently made changes to their positions in the company. Miracle Mile Advisors LLC bought a new stake in shares of CRH during the 4th quarter valued at $235,000. Pallas Capital Advisors LLC bought a new stake in shares of CRH during the 4th quarter valued at $246,000. Rockland Trust Co. bought a new stake in shares of CRH during the 4th quarter valued at $230,000. Kathmere Capital Management LLC raised its stake in shares of CRH by 6.0% during the 4th quarter. Kathmere Capital Management LLC now owns 13,543 shares of the construction company's stock valued at $1,253,000 after purchasing an additional 763 shares during the period. Finally, Park Avenue Securities LLC raised its stake in shares of CRH by 22.1% during the 4th quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company's stock valued at $3,012,000 after purchasing an additional 5,889 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CRH. JPMorgan Chase & Co. decreased their price objective on CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada decreased their target price on CRH from $127.00 to $108.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. StockNews.com upgraded CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Sanford C. Bernstein assumed coverage on CRH in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price on the stock. Finally, Berenberg Bank set a $120.00 target price on CRH in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $112.58.
Check Out Our Latest Research Report on CRH
CRH Trading Up 1.2%
Shares of CRH traded up $1.15 during midday trading on Friday, reaching $98.98. The stock had a trading volume of 3,180,808 shares, compared to its average volume of 5,801,833. The company's 50-day moving average is $91.51 and its 200 day moving average is $96.32. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97. The company has a market capitalization of $66.87 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.
CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). CRH had a return on equity of 16.35% and a net margin of 9.86%. The firm had revenue of $6.76 billion during the quarter, compared to analysts' expectations of $6.77 billion. Research analysts forecast that CRH plc will post 5.47 EPS for the current fiscal year.
CRH Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Friday, May 23rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.50%. The ex-dividend date is Friday, May 23rd. CRH's dividend payout ratio is presently 23.52%.
CRH Company Profile
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Free Report)
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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