Massachusetts Financial Services Co. MA Sells 442,161 Shares of Crh Plc $CRH

Massachusetts Financial Services Co. MA reduced its position in shares of Crh Plc (NYSE:CRH) by 3.5% in the third quarter, Holdings Channel reports. The firm owned 12,361,185 shares of the construction company’s stock after selling 442,161 shares during the period. Massachusetts Financial Services Co. MA’s holdings in CRH were worth $1,482,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in CRH by 1.0% during the second quarter. Vanguard Group Inc. now owns 64,405,066 shares of the construction company’s stock worth $5,912,385,000 after buying an additional 649,598 shares in the last quarter. Norges Bank bought a new stake in shares of CRH during the 2nd quarter valued at about $1,007,932,000. Boston Partners grew its holdings in shares of CRH by 9.4% during the second quarter. Boston Partners now owns 9,654,828 shares of the construction company’s stock worth $888,810,000 after purchasing an additional 832,027 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of CRH by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 9,185,200 shares of the construction company’s stock worth $843,201,000 after purchasing an additional 354,711 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in CRH by 3.9% in the second quarter. Geode Capital Management LLC now owns 8,667,093 shares of the construction company’s stock valued at $792,185,000 after purchasing an additional 325,170 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of CRH stock opened at $123.08 on Friday. The business has a 50-day moving average of $121.71 and a 200 day moving average of $113.72. Crh Plc has a 1-year low of $76.75 and a 1-year high of $131.55. The stock has a market capitalization of $82.50 billion, a PE ratio of 24.52, a P/E/G ratio of 1.80 and a beta of 1.34.

CRH (NYSE:CRH) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.27. CRH had a return on equity of 16.25% and a net margin of 9.30%.The firm had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the company posted $1.97 earnings per share. 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 anticipate that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Friday, November 21st were given a $0.37 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.2%. CRH’s payout ratio is presently 22.11%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CRH shares. DA Davidson increased their price target on shares of CRH from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Morgan Stanley increased their target price on CRH from $131.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. UBS Group lifted their price target on CRH from $138.00 to $147.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Barclays raised their price objective on CRH from $110.00 to $131.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Bank of America started coverage on CRH in a research note on Friday, September 26th. They issued a “buy” rating and a $128.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, CRH currently has an average rating of “Moderate Buy” and a consensus target price of $136.20.

About CRH

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.