King Luther Capital Management Corp Sells 10,782 Shares of Crh Plc $CRH

King Luther Capital Management Corp lowered its stake in Crh Plc (NYSE:CRH) by 48.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,574 shares of the construction company’s stock after selling 10,782 shares during the period. King Luther Capital Management Corp’s holdings in CRH were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CRH. Acorn Wealth Advisors LLC grew its holdings in shares of CRH by 4.3% during the second quarter. Acorn Wealth Advisors LLC now owns 2,658 shares of the construction company’s stock valued at $284,000 after buying an additional 109 shares during the last quarter. Cloverfields Capital Group LP increased its position in shares of CRH by 0.3% in the 1st quarter. Cloverfields Capital Group LP now owns 37,937 shares of the construction company’s stock valued at $3,988,000 after acquiring an additional 117 shares during the period. Angeles Wealth Management LLC increased its position in shares of CRH by 5.9% in the 2nd quarter. Angeles Wealth Management LLC now owns 2,312 shares of the construction company’s stock valued at $247,000 after acquiring an additional 129 shares during the period. Narwhal Capital Management raised its stake in CRH by 0.3% in the 3rd quarter. Narwhal Capital Management now owns 50,879 shares of the construction company’s stock worth $4,213,000 after acquiring an additional 130 shares during the last quarter. Finally, Modern Wealth Management LLC raised its stake in CRH by 6.6% in the 1st quarter. Modern Wealth Management LLC now owns 2,260 shares of the construction company’s stock worth $240,000 after acquiring an additional 139 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on CRH shares. Barclays lowered their price target on CRH from $131.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Weiss Ratings lowered CRH from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. DA Davidson cut their price objective on CRH from $117.00 to $114.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Truist Financial raised their price objective on CRH from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Finally, Royal Bank Of Canada reduced their price objective on CRH from $165.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. Nineteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.97.

Insider Transactions at CRH

In other CRH news, Director Siobhan Talbot purchased 2,000 shares of the stock in a transaction on Tuesday, November 3rd. The shares were bought at an average cost of $94.63 per share, with a total value of $189,260.00. Following the completion of the acquisition, the director owned 10,507 shares in the company, valued at $994,277.41. This trade represents a 23.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

CRH Trading Down 0.8%

NYSE CRH traded down $0.73 on Friday, hitting $93.19. 3,542,647 shares of the company’s stock traded hands, compared to its average volume of 5,688,084. The firm’s 50-day moving average price is $87.40 and its two-hundred day moving average price is $102.87. The firm has a market capitalization of $61.99 billion, a PE ratio of 17.48, a P/E/G ratio of 1.79 and a beta of 1.33. Crh Plc has a 1-year low of $78.62 and a 1-year high of $131.55.

CRH (NYSE:CRH) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.56 billion. CRH had a net margin of 9.19% and a return on equity of 15.03%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. On average, research analysts anticipate that Crh Plc will post 5.55 earnings per share for the current fiscal year.

CRH Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, November 13th. This represents a $1.56 dividend on an annualized basis and a yield of 1.7%. CRH’s payout ratio is currently 29.27%.

CRH Profile

CRH plc is an international building materials company headquartered in Dublin, Ireland. Formed in 1970 through the merger of Cement Limited and Roadstone Limited, the company supplies materials and products used in infrastructure, commercial construction and residential building. CRH’s offerings include aggregates, cement, ready-mixed concrete and asphalt, as well as paving, architectural and construction products. It also provides materials and services for road construction and maintenance. The company serves customers across North America and Europe through a network of local businesses and operations.