Crh Plc $CRH Stock: Titleist Asset Management LLC Reduces Stake

Titleist Asset Management LLC lessened its position in shares of Crh Plc (NYSE:CRH) by 61.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,349 shares of the construction company’s stock after selling 7,073 shares during the quarter. Titleist Asset Management LLC’s holdings in CRH were worth $360,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CRH. Royal Bank of Canada raised its holdings in CRH by 2.5% during the 4th quarter. Royal Bank of Canada now owns 10,808,439 shares of the construction company’s stock worth $1,348,894,000 after purchasing an additional 262,175 shares during the last quarter. Amundi boosted its stake in shares of CRH by 74.7% in the 1st quarter. Amundi now owns 5,965,814 shares of the construction company’s stock valued at $627,126,000 after purchasing an additional 2,550,178 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of CRH by 3.8% in the 1st quarter. Bank of America Corp DE now owns 5,928,489 shares of the construction company’s stock valued at $623,203,000 after purchasing an additional 216,822 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of CRH by 6.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,831,618 shares of the construction company’s stock worth $507,784,000 after buying an additional 297,309 shares during the period. Finally, Aviva PLC raised its stake in shares of CRH by 11.3% during the fourth quarter. Aviva PLC now owns 2,938,710 shares of the construction company’s stock worth $366,876,000 after buying an additional 298,453 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

CRH has been the topic of several analyst reports. Weiss Ratings lowered shares of CRH from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 16th. UBS Group dropped their target price on shares of CRH from $147.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Stephens cut their price target on CRH from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Berenberg Bank set a $140.00 price target on CRH in a research report on Tuesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft set a $118.00 price objective on CRH in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $131.61.

CRH Stock Performance

Shares of NYSE CRH opened at $81.57 on Friday. The stock has a market cap of $54.27 billion, a P/E ratio of 14.39, a P/E/G ratio of 1.61 and a beta of 1.31. The firm has a 50 day moving average price of $91.02 and a 200 day moving average price of $101.77. Crh Plc has a 52-week low of $80.13 and a 52-week high of $131.55.

CRH (NYSE:CRH) last posted its earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.19. The company had revenue of $10.78 billion for 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 business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $1.94 earnings per share. Analysts predict that Crh Plc will post 5.90 earnings per share for the current fiscal year.

CRH Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Friday, August 14th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 14th. CRH’s dividend payout ratio (DPR) is presently 27.51%.

About CRH

CRH plc is a global building materials company headquartered in Ireland. Formerly known as Cement Roadstone Holdings, the company was formed in 1970 through the merger of Cement Limited and Roadstone Limited. CRH provides materials, products and services used in residential, commercial and infrastructure construction.

Its portfolio includes aggregates, asphalt, ready-mixed concrete, cement, architectural products, precast concrete, paving and construction accessories. The company serves customers across the construction value chain, including contractors, distributors, homebuilders and infrastructure developers.

CRH operates primarily in North America and Europe, with businesses spanning the United States, Canada and multiple European markets.