Reliant Investment Management LLC Acquires 48,276 Shares of Crh Plc $CRH

Reliant Investment Management LLC acquired a new stake in shares of Crh Plc (NYSE:CRH) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 48,276 shares of the construction company’s stock, valued at approximately $3,997,000. CRH makes up approximately 1.4% of Reliant Investment Management LLC’s holdings, making the stock its 28th biggest position.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its position in CRH by 2.5% in the fourth quarter. Royal Bank of Canada now owns 10,808,439 shares of the construction company’s stock worth $1,348,894,000 after acquiring an additional 262,175 shares in the last quarter. Amundi increased its stake in CRH by 74.7% in the first quarter. Amundi now owns 5,965,814 shares of the construction company’s stock valued at $627,126,000 after acquiring an additional 2,550,178 shares during the last quarter. Bank of America Corp DE increased its stake in CRH by 3.8% in the first quarter. Bank of America Corp DE now owns 5,928,489 shares of the construction company’s stock valued at $623,203,000 after acquiring an additional 216,822 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in CRH by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,831,618 shares of the construction company’s stock valued at $507,784,000 after acquiring an additional 297,309 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in CRH by 4.1% during the first quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company’s stock valued at $245,460,000 after purchasing an additional 93,106 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CRH. Rothschild & Co Redburn dropped their price target on CRH from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of CRH in a research report on Tuesday, June 23rd. Truist Financial reduced their price objective on CRH from $130.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. DA Davidson assumed coverage on CRH in a report on Monday, August 24th. They set a “buy” rating and a $137.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on CRH in a research report on Friday, September 11th. They issued an “overweight” rating and a $139.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $127.61.

CRH Stock Performance

Shares of CRH stock opened at $79.29 on Thursday. Crh Plc has a 52-week low of $78.62 and a 52-week high of $131.55. The stock has a market capitalization of $52.75 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. The company has a fifty day moving average of $89.87 and a 200-day moving average of $101.22.

CRH (NYSE:CRH) last released its earnings results on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.02 by $0.19. The company had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. CRH had a net margin of 9.93% and a return on equity of 15.76%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 EPS. On average, equities research analysts forecast that Crh Plc will post 5.83 earnings per share for the current fiscal year.

CRH Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, August 14th. CRH’s dividend payout ratio is presently 27.51%.

CRH Company Profile

CRH plc is a global building materials company headquartered in Ireland. Formerly known as Cement Roadstone Holdings, the company was formed in 1970 through the merger of Cement Limited and Roadstone Limited. CRH provides materials, products and services used in residential, commercial and infrastructure construction.

Its portfolio includes aggregates, asphalt, ready-mixed concrete, cement, architectural products, precast concrete, paving and construction accessories. The company serves customers across the construction value chain, including contractors, distributors, homebuilders and infrastructure developers.

CRH operates primarily in North America and Europe, with businesses spanning the United States, Canada and multiple European markets.