Pictet Asset Management Holding SA boosted its holdings in Crh Plc (NYSE:CRH – Free Report) by 6.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 530,362 shares of the construction company’s stock after purchasing an additional 33,512 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CRH were worth $44,051,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in CRH. Continuum Advisory LLC bought a new stake in CRH in the 2nd quarter valued at $29,000. Anchor Investment Management LLC purchased a new position in CRH during the second quarter worth $40,000. Physician Wealth Advisors Inc. boosted its stake in shares of CRH by 42.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 582 shares of the construction company’s stock worth $48,000 after purchasing an additional 173 shares during the period. Salomon & Ludwin LLC grew its stake in shares of CRH by 285.9% during the third quarter. Salomon & Ludwin LLC now owns 683 shares of the construction company’s stock valued at $57,000 after buying an additional 506 shares during the last quarter. Finally, Eastern Bank grew its position in CRH by 36.5% in the 2nd quarter. Eastern Bank now owns 550 shares of the construction company’s stock valued at $59,000 after acquiring an additional 147 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently issued reports on CRH shares. JPMorgan Chase & Co. started coverage on CRH in a research note on Tuesday, October 13th. They issued an “overweight” rating and a $115.00 price objective on the stock. Stephens increased their target price on shares of CRH from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Weiss Ratings downgraded CRH from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 16th. Wells Fargo & Company raised their target price on CRH from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Finally, Morgan Stanley decreased their price objective on shares of CRH from $139.00 to $129.00 and set an “overweight” rating for the company in a research note on Wednesday, November 4th. Nineteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, CRH currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.97.
CRH Price Performance
CRH stock opened at $96.74 on Wednesday. The business has a 50 day simple moving average of $87.25 and a 200-day simple moving average of $103.30. The stock has a market capitalization of $64.35 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.33. Crh Plc has a 12 month low of $78.62 and a 12 month high of $131.55.
CRH (NYSE:CRH – Get Free Report) last announced its earnings results on Thursday, October 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $11.40 billion for the quarter, compared to analyst estimates of $11.56 billion. CRH had a net margin of 9.19% and a return on equity of 15.03%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.21 earnings per share. On average, equities research analysts anticipate that Crh Plc will post 5.55 EPS for the current fiscal year.
CRH Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, November 13th. This represents a $1.56 dividend on an annualized basis and a yield of 1.6%. CRH’s dividend payout ratio (DPR) is presently 29.27%.
Insider Activity at CRH
In other news, Director Siobhan Talbot purchased 2,000 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were purchased at an average price of $94.63 per share, with a total value of $189,260.00. Following the transaction, the director owned 10,507 shares in the company, valued at $994,277.41. The trade was a 23.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.
About CRH
CRH plc is an international building materials company headquartered in Dublin, Ireland. Formed in 1970 through the merger of Cement Limited and Roadstone Limited, the company supplies materials and products used in infrastructure, commercial construction and residential building. CRH’s offerings include aggregates, cement, ready-mixed concrete and asphalt, as well as paving, architectural and construction products. It also provides materials and services for road construction and maintenance. The company serves customers across North America and Europe through a network of local businesses and operations.
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