Envestnet Asset Management Inc. Boosts Holdings in Crh Plc $CRH

Envestnet Asset Management Inc. raised its stake in shares of Crh Plc (NYSE:CRH) by 7.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,086,517 shares of the construction company’s stock after acquiring an additional 78,187 shares during the period. Envestnet Asset Management Inc.’s holdings in CRH were worth $130,273,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CRH. Principal Financial Group Inc. raised its position in CRH by 24.7% during the third quarter. Principal Financial Group Inc. now owns 2,269,271 shares of the construction company’s stock valued at $272,086,000 after acquiring an additional 448,860 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of CRH in the 3rd quarter valued at $4,491,000. Exane Asset Management boosted its holdings in CRH by 21.2% during the third quarter. Exane Asset Management now owns 663,774 shares of the construction company’s stock worth $80,735,000 after buying an additional 116,178 shares in the last quarter. StoneX Group Inc. acquired a new stake in CRH during the second quarter valued at $1,472,000. Finally, Dynasty Wealth Management LLC increased its holdings in CRH by 77.5% in the third quarter. Dynasty Wealth Management LLC now owns 34,077 shares of the construction company’s stock valued at $4,086,000 after buying an additional 14,877 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Trading Up 4.4%

CRH opened at $127.16 on Friday. Crh Plc has a twelve month low of $76.75 and a twelve month high of $131.55. The firm has a market capitalization of $85.23 billion, a PE ratio of 25.33, a PEG ratio of 1.78 and a beta of 1.33. The firm’s 50-day moving average price is $124.70 and its 200 day moving average price is $116.55.

CRH (NYSE:CRH) last released its quarterly earnings data on Wednesday, November 5th. The construction company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.27. The company had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $10.15 billion. CRH had a net margin of 9.30% and a return on equity of 16.25%. CRH’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. As a group, analysts predict that Crh Plc will post 5.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. UBS Group lifted their price target on CRH from $138.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Longbow Research started coverage on CRH in a research report on Tuesday, December 16th. They issued a “buy” rating and a $160.00 price objective for the company. DA Davidson increased their target price on CRH from $110.00 to $116.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Jefferies Financial Group reissued a “buy” rating on shares of CRH in a report on Monday, December 1st. Finally, Citigroup increased their price objective on shares of CRH from $142.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.87.

About CRH

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.