VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Crh Plc $CRH

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Crh Plc (NYSE:CRH – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm bought 46,250 shares of the construction company’s stock, valued at approximately $4,949,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of CRH by 10,631.6% in the second quarter. California State Teachers Retirement System now owns 83,361,667 shares of the construction company’s stock valued at $8,919,698,000 after purchasing an additional 82,584,877 shares during the period. Norges Bank acquired a new position in CRH in the 4th quarter valued at about $1,476,939,000. State Street Corp boosted its holdings in CRH by 81.3% in the 4th quarter. State Street Corp now owns 24,895,205 shares of the construction company’s stock valued at $3,106,927,000 after purchasing an additional 11,167,189 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of CRH by 67.3% in the 4th quarter. Geode Capital Management LLC now owns 14,709,575 shares of the construction company’s stock valued at $1,827,252,000 after buying an additional 5,916,930 shares during the period. Finally, Amundi increased its holdings in shares of CRH by 74.7% during the 1st quarter. Amundi now owns 5,965,814 shares of the construction company’s stock worth $627,126,000 after buying an additional 2,550,178 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

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CRH Price Performance

Shares of CRH stock opened at $90.58 on Wednesday. The stock has a market capitalization of $60.26 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33. The business has a 50-day moving average of $99.07 and a 200 day moving average of $105.92. Crh Plc has a 12 month low of $90.21 and a 12 month high of $131.55.

CRH (NYSE:CRH – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.19. The business had revenue of $10.78 billion for the quarter, compared to analysts’ expectations of $10.68 billion. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. Equities research analysts anticipate that Crh Plc will post 5.9 earnings per share for the current year.

CRH Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.7%. CRH’s dividend payout ratio is currently 27.51%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. 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 report on Friday, June 26th. Weiss Ratings raised CRH from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, July 31st. DA Davidson started coverage on CRH in a report on Monday, August 24th. They set a “buy” rating and a $137.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of CRH from $135.00 to $132.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Finally, Berenberg Bank set a $140.00 target price on shares of CRH in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $140.54.

Check Out Our Latest Research Report on CRH

CRH Profile

(Free Report)

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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