Crh Plc $CRH Stock: Sterling Capital Management LLC Increases Stake

Sterling Capital Management LLC lifted its stake in shares of Crh Plc (NYSE:CRH) by 43.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,891 shares of the construction company’s stock after acquiring 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Continuum Advisory LLC bought a new stake in CRH during the 2nd quarter worth approximately $29,000. Cedar Mountain Advisors LLC bought a new position in shares of CRH in the first quarter worth approximately $38,000. Anchor Investment Management LLC purchased a new stake in shares of CRH in the second quarter worth $40,000. Eastern Bank increased its stake in shares of CRH by 36.5% in the second quarter. Eastern Bank now owns 550 shares of the construction company’s stock worth $59,000 after purchasing an additional 147 shares in the last quarter. Finally, Physician Wealth Advisors Inc. increased its stake in shares of CRH by 42.3% in the third quarter. Physician Wealth Advisors Inc. now owns 582 shares of the construction company’s stock worth $48,000 after purchasing an additional 173 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Price Performance

Shares of NYSE:CRH traded down $1.57 during trading on Friday, reaching $84.86. 3,661,637 shares of the company were exchanged, compared to its average volume of 5,683,978. The business’s fifty day simple moving average is $87.84 and its 200-day simple moving average is $100.29. Crh Plc has a 12-month low of $78.62 and a 12-month high of $131.55. The firm has a market capitalization of $56.45 billion, a PE ratio of 14.97, a P/E/G ratio of 1.57 and a beta of 1.31.

CRH (NYSE:CRH) last posted its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.02 by $0.19. The business had revenue of $10.78 billion during the quarter, compared to analyst estimates of $10.68 billion. CRH had a net margin of 9.93% and a return on equity of 15.76%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 EPS. On average, sell-side analysts anticipate that Crh Plc will post 5.83 EPS for the current fiscal year.

CRH Dividend Announcement

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

Key CRH News

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

Analyst Upgrades and Downgrades

CRH has been the subject of a number of recent analyst reports. Rothschild & Co Redburn dropped their price objective on CRH from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. BNP Paribas Exane cut their target price on CRH from $157.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, September 16th. Wells Fargo & Company decreased their target price on CRH from $107.00 to $106.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Jefferies Financial Group lowered their price target on CRH from $159.50 to $126.50 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Royal Bank Of Canada dropped their price target on CRH from $165.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $126.50.

CRH Company Profile

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.