Pictet Asset Management Holding SA Acquires 33,512 Shares of Crh Plc $CRH

Pictet Asset Management Holding SA raised its position in shares of Crh Plc (NYSE:CRH) by 6.7% in the third quarter, according to its most recent filing with the SEC. The firm 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 owned approximately 0.08% of CRH worth $44,051,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Acorn Wealth Advisors LLC lifted its holdings in shares of CRH by 4.3% in the 2nd quarter. Acorn Wealth Advisors LLC now owns 2,658 shares of the construction company’s stock worth $284,000 after purchasing an additional 109 shares in the last quarter. Cloverfields Capital Group LP raised its position in shares of CRH by 0.3% in the first quarter. Cloverfields Capital Group LP now owns 37,937 shares of the construction company’s stock valued at $3,988,000 after purchasing an additional 117 shares during the period. Angeles Wealth Management LLC grew its position in shares of CRH by 5.9% in the second quarter. Angeles Wealth Management LLC now owns 2,312 shares of the construction company’s stock valued at $247,000 after purchasing an additional 129 shares in the last quarter. Modern Wealth Management LLC boosted its stake in CRH by 6.6% in the 1st quarter. Modern Wealth Management LLC now owns 2,260 shares of the construction company’s stock worth $240,000 after purchasing an additional 139 shares during the period. Finally, Eastern Bank grew its stake in CRH by 36.5% during the second quarter. Eastern Bank now owns 550 shares of the construction company’s stock valued at $59,000 after acquiring an additional 147 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Insiders Place Their Bets

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 cost of $94.63 per share, with a total value of $189,260.00. Following the acquisition, the director directly owned 10,507 shares of the company’s stock, valued at $994,277.41. This represents a 23.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

CRH Stock Performance

Shares of CRH stock opened at $96.74 on Wednesday. The company’s 50-day moving average is $87.25 and its 200 day moving average is $103.30. Crh Plc has a one year low of $78.62 and a one year high of $131.55. The company has a market capitalization of $64.35 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.33.

CRH (NYSE:CRH) last announced its quarterly earnings data on Thursday, October 29th. The construction company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. CRH had a net margin of 9.19% and a return on equity of 15.03%. The company had revenue of $11.40 billion during the quarter, compared to analyst estimates of $11.56 billion. During the same period in the previous year, the business earned $2.21 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts predict that Crh Plc will post 5.55 earnings per share for the current fiscal year.

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, November 13th. CRH’s payout ratio is presently 29.27%.

Analyst Upgrades and Downgrades

CRH has been the subject of several recent analyst reports. Weiss Ratings lowered CRH from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 16th. Stephens lifted their price objective on CRH from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Barclays dropped their price target on shares of CRH from $131.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Jefferies Financial Group cut their price objective on CRH from $159.50 to $126.50 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Finally, Truist Financial raised their price objective on shares of CRH from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Nineteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, CRH currently has an average rating of “Moderate Buy” and a consensus target price of $125.97.

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.