Mirae Asset Global Investments Co. Ltd. Acquires 178,320 Shares of Crh Plc $CRH

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Crh Plc (NYSE:CRH) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 178,320 shares of the construction company’s stock, valued at approximately $14,765,000.

A number of other institutional investors have also recently bought and sold shares of CRH. QRG Capital Management Inc. raised its position in CRH by 7.7% in the 2nd quarter. QRG Capital Management Inc. now owns 196,860 shares of the construction company’s stock valued at $21,064,000 after buying an additional 14,091 shares during the last quarter. Handelsbanken Fonder AB boosted its position in CRH by 13.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 332,198 shares of the construction company’s stock worth $35,545,000 after acquiring an additional 38,141 shares during the last quarter. Davis Rea LTD. grew its stake in shares of CRH by 1,292.9% during the 3rd quarter. Davis Rea LTD. now owns 70,135 shares of the construction company’s stock worth $5,807,000 after acquiring an additional 65,100 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of CRH by 4.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company’s stock worth $245,460,000 after acquiring an additional 93,106 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of CRH during the 2nd quarter worth approximately $2,229,000. Institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays reduced their target price on shares of CRH from $131.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Deutsche Bank Aktiengesellschaft set a $118.00 price target on shares of CRH in a research note on Friday, October 9th. Berenberg Bank set a $140.00 price target on shares of CRH in a research report on Tuesday, September 8th. Morgan Stanley started coverage on shares of CRH in a research note on Friday, September 11th. They set an “overweight” rating and a $139.00 price objective for the company. Finally, BNP Paribas Exane decreased their price objective on CRH from $157.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, September 16th. Nineteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.13.

CRH Stock Performance

Shares of CRH stock opened at $93.55 on Wednesday. Crh Plc has a 52 week low of $78.62 and a 52 week high of $131.55. The company has a market capitalization of $62.23 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.85 and a beta of 1.33. The company has a 50-day simple moving average of $87.17 and a 200 day simple moving average of $103.94.

CRH (NYSE:CRH) last released its quarterly earnings results on Thursday, October 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. CRH had a return on equity of 15.03% and a net margin of 9.19%. The business had revenue of $11.40 billion during the quarter, compared to the consensus estimate of $11.56 billion. During the same period in the previous year, the company posted $2.21 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts forecast that Crh Plc will post 5.52 EPS for the current year.

CRH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, November 13th. CRH’s dividend payout ratio (DPR) is 29.27%.

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.