California State Teachers Retirement System Acquires 82,584,877 Shares of Crh Plc $CRH

California State Teachers Retirement System increased its holdings in shares of Crh Plc (NYSE:CRH) by 10,631.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 83,361,667 shares of the construction company’s stock after purchasing an additional 82,584,877 shares during the period. California State Teachers Retirement System owned approximately 0.13% of CRH worth $8,919,698,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CRH. State Street Corp grew its holdings in CRH by 81.3% in the 4th quarter. State Street Corp now owns 24,895,205 shares of the construction company’s stock valued at $3,106,927,000 after buying an additional 11,167,189 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CRH by 67.3% during the fourth quarter. Geode Capital Management LLC now owns 14,709,575 shares of the construction company’s stock worth $1,827,252,000 after buying an additional 5,916,930 shares during the last quarter. Norges Bank acquired a new stake in shares of CRH in the fourth quarter worth $1,476,939,000. Royal Bank of Canada increased its position in CRH by 2.5% during 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 during the period. Finally, Boston Partners increased its position in CRH by 1.7% during the third quarter. Boston Partners now owns 9,816,938 shares of the construction company’s stock worth $1,176,530,000 after acquiring an additional 162,110 shares during the period. Institutional investors own 62.50% of the company’s stock.

CRH Stock Down 3.9%

NYSE:CRH opened at $90.58 on Wednesday. Crh Plc has a 12-month low of $90.21 and a 12-month high of $131.55. The firm has a market capitalization of $60.26 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33. The firm has a 50-day moving average price of $99.07 and a 200 day moving average price of $105.92.

CRH (NYSE:CRH) last announced its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The firm had revenue of $10.78 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter last year, the company earned $1.94 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts expect that Crh Plc will post 5.9 EPS for the current year.

CRH Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Friday, August 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 annualized dividend and a yield of 1.7%. CRH’s payout ratio is currently 27.51%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of CRH from $149.00 to $165.60 and gave the company a “buy” rating in a report on Friday, June 26th. Sanford C. Bernstein restated an “outperform” rating on shares of CRH in a report on Tuesday, June 23rd. Weiss Ratings raised shares of CRH from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, July 31st. Truist Financial reduced their target price on shares of CRH from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, Wells Fargo & Company decreased their target price on CRH from $135.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $140.54.

CRH Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.