Crh Plc $CRH Stock Bought by Sterling Capital Management LLC

Sterling Capital Management LLC increased its holdings in Crh Plc (NYSE:CRH) by 43.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 149,891 shares of the construction company’s stock after buying an additional 45,611 shares during the quarter. Sterling Capital Management LLC’s holdings in CRH were worth $12,411,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CRH. Amundi lifted its stake in CRH by 74.7% during the 1st 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 period. Hsbc Holdings PLC grew its stake in shares of CRH by 441.4% in the first quarter. Hsbc Holdings PLC now owns 1,468,493 shares of the construction company’s stock worth $154,218,000 after acquiring an additional 1,197,255 shares during the period. Renaissance Technologies LLC bought a new stake in shares of CRH in the first quarter worth approximately $79,124,000. Janus Henderson Group PLC raised its holdings in shares of CRH by 27.9% during the first quarter. Janus Henderson Group PLC now owns 2,186,541 shares of the construction company’s stock valued at $228,994,000 after purchasing an additional 477,242 shares during the last quarter. Finally, Engineers Gate Manager LP raised its holdings in shares of CRH by 1,838.4% during the second quarter. Engineers Gate Manager LP now owns 461,503 shares of the construction company’s stock valued at $49,381,000 after purchasing an additional 437,694 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CRH shares. Rothschild & Co Redburn lowered their price objective on shares of CRH from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, October 1st. Wells Fargo & Company cut their target price on shares of CRH from $107.00 to $106.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $115.00 target price (down from $140.00) on shares of CRH in a research note on Tuesday, October 13th. Weiss Ratings lowered shares of CRH from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 16th. Finally, Truist Financial lowered their price target on CRH from $130.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $126.50.

CRH Stock Performance

Shares of NYSE CRH traded down $1.57 during midday trading on Friday, hitting $84.86. 3,661,637 shares of the company’s stock traded hands, compared to its average volume of 5,683,978. The firm has a fifty day moving average of $87.84 and a 200 day moving average of $100.29. Crh Plc has a 1 year low of $78.62 and a 1 year high of $131.55. The stock has a market capitalization of $56.45 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31.

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

CRH Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 14th. CRH’s dividend payout ratio (DPR) is currently 27.51%.

Trending Headlines about CRH

Here are the key news stories impacting CRH this week:

• Positive Sentiment: Arcosa acquisition completed: CRH closed its purchase of Arcosa for an enterprise value of approximately $8.5 billion. The deal expands CRH’s U.S. aggregates and critical-infrastructure operations and strengthens its connected, aggregates-led portfolio. The earlier-than-expected closing is expected to provide an earnings contribution sooner than anticipated. CRH completes $8.5B acquisition of Arcosa
• Positive Sentiment: Potential earnings boost: Reports indicate the early completion of the Arcosa transaction should increase CRH’s earnings contribution from the business, while adding exposure to U.S. infrastructure and construction demand. CRH set for earnings boost from early closing of Arcosa deal
• Neutral Sentiment: Results approaching: CRH is scheduled to report its next results on October 29. Investors will likely focus on operating performance, the financial impact of Arcosa, integration progress and management’s outlook. CRH sets October 29 results date
• Negative Sentiment: JPMorgan lowers target: JPMorgan cut its CRH price target to $115 from $140. Although the revised target remains above the recent trading level, the reduction signals more cautious expectations and has pressured investor sentiment. JPMorgan cut CRH stock target

About CRH

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its activities include the production and distribution of aggregates, asphalt, ready-mixed concrete, cement and other construction materials, as well as value-added products such as precast concrete, architectural products and site-development solutions.

The company serves customers across North America and Europe, including contractors, construction companies, infrastructure developers, distributors and public-sector organizations.