OLD National Bancorp IN Decreases Stake in CRH plc (NYSE:CRH)

OLD National Bancorp IN lessened its holdings in shares of CRH plc (NYSE:CRH) by 21.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,398 shares of the construction company’s stock after selling 2,515 shares during the period. OLD National Bancorp IN’s holdings in CRH were worth $827,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRH. Covestor Ltd grew its stake in shares of CRH by 20.4% during the 4th quarter. Covestor Ltd now owns 755 shares of the construction company’s stock worth $70,000 after purchasing an additional 128 shares during the period. Parallel Advisors LLC grew its position in CRH by 1.9% during the fourth quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company’s stock worth $630,000 after buying an additional 129 shares during the period. First Eagle Investment Management LLC grew its position in CRH by 3.2% during the fourth quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock worth $405,000 after buying an additional 136 shares during the period. Gradient Investments LLC increased its holdings in CRH by 2.8% in the first quarter. Gradient Investments LLC now owns 5,175 shares of the construction company’s stock valued at $455,000 after buying an additional 143 shares in the last quarter. Finally, Shelton Capital Management lifted its position in shares of CRH by 1.1% during the 4th quarter. Shelton Capital Management now owns 14,475 shares of the construction company’s stock valued at $1,339,000 after acquiring an additional 151 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Price Performance

NYSE:CRH opened at $93.20 on Tuesday. The firm has a market cap of $62.97 billion, a PE ratio of 18.64, a P/E/G ratio of 1.15 and a beta of 1.28. The firm has a 50 day simple moving average of $91.14 and a 200-day simple moving average of $95.66. CRH plc has a 1-year low of $71.18 and a 1-year high of $110.97.

CRH (NYSE:CRH) last issued its quarterly earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). CRH had a net margin of 9.86% and a return on equity of 16.35%. The business had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.77 billion. As a group, sell-side analysts expect that CRH plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Friday, May 23rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.48 annualized dividend and a yield of 1.59%. CRH’s dividend payout ratio (DPR) is presently 23.52%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CRH shares. JPMorgan Chase & Co. lowered their price target on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. The Goldman Sachs Group reiterated a “neutral” rating on shares of CRH in a research report on Tuesday, May 6th. Sanford C. Bernstein assumed coverage on CRH in a research report on Tuesday, May 13th. They issued an “outperform” rating and a $115.00 price target for the company. Royal Bank of Canada decreased their price objective on shares of CRH from $127.00 to $108.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Finally, Loop Capital assumed coverage on shares of CRH in a report on Wednesday, April 9th. They set a “buy” rating and a $114.00 target price for the company. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CRH has a consensus rating of “Buy” and a consensus target price of $112.58.

CRH 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.