Norges Bank Invests $1.01 Billion in Crh Plc $CRH

Norges Bank acquired a new stake in shares of Crh Plc (NYSE:CRH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,979,566 shares of the construction company’s stock, valued at approximately $1,007,932,000. Norges Bank owned approximately 1.63% of CRH at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRH. Vanguard Group Inc. boosted its holdings in CRH by 62.8% in the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company’s stock valued at $5,608,567,000 after purchasing an additional 24,591,538 shares during the period. Nuveen LLC bought a new position in shares of CRH in the first quarter worth $597,888,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CRH by 58,695.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,830,994 shares of the construction company’s stock worth $249,043,000 after buying an additional 2,826,179 shares in the last quarter. Eleva Capital SAS bought a new stake in CRH during the second quarter valued at $250,562,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in CRH by 24.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,803,346 shares of the construction company’s stock valued at $1,175,347,000 after buying an additional 2,499,558 shares during the period. Institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of NYSE:CRH opened at $119.96 on Friday. Crh Plc has a 1 year low of $76.75 and a 1 year high of $121.99. The company has a market cap of $80.41 billion, a PE ratio of 25.10, a P/E/G ratio of 1.68 and a beta of 1.32. The stock’s 50-day moving average is $116.00 and its 200 day moving average is $105.62.

CRH (NYSE:CRH) last released its quarterly earnings data on Wednesday, November 5th. The construction company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.27. CRH had a return on equity of 15.68% and a net margin of 9.09%.The business had revenue of $11.07 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the business posted $1.97 EPS. The business’s revenue was up 5.3% on a year-over-year basis. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. Analysts expect that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 21st will be issued a $0.37 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.48 annualized dividend and a yield of 1.2%. CRH’s payout ratio is 22.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial upped their target price on CRH from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Jefferies Financial Group raised CRH to a “strong-buy” rating in a research note on Monday, September 22nd. Royal Bank Of Canada decreased their price target on shares of CRH from $152.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Morgan Stanley set a $134.00 price objective on shares of CRH in a research note on Thursday, October 9th. Finally, Bank of America initiated coverage on shares of CRH in a report on Friday, September 26th. They set a “buy” rating and a $128.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $129.54.

CRH Company Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.