NEOS Investment Management LLC Increases Holdings in Crh Plc $CRH

NEOS Investment Management LLC boosted its stake in shares of Crh Plc (NYSE:CRH) by 14.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 110,134 shares of the construction company’s stock after purchasing an additional 14,268 shares during the quarter. NEOS Investment Management LLC’s holdings in CRH were worth $11,784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Waddell & Associates LLC boosted its position in shares of CRH by 3.8% during the 4th quarter. Waddell & Associates LLC now owns 2,352 shares of the construction company’s stock valued at $294,000 after acquiring an additional 87 shares during the last quarter. Larson Financial Group LLC increased its position in CRH by 6.1% during the fourth quarter. Larson Financial Group LLC now owns 1,778 shares of the construction company’s stock worth $222,000 after purchasing an additional 102 shares during the last quarter. Bell Investment Advisors Inc increased its position in CRH by 51.2% during the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company’s stock worth $32,000 after purchasing an additional 103 shares during the last quarter. Acorn Wealth Advisors LLC raised its stake in CRH by 4.3% during the second quarter. Acorn Wealth Advisors LLC now owns 2,658 shares of the construction company’s stock worth $284,000 after purchasing an additional 109 shares during the period. Finally, Optas LLC boosted its holdings in CRH by 4.5% in the 1st quarter. Optas LLC now owns 2,695 shares of the construction company’s stock valued at $283,000 after purchasing an additional 117 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Price Performance

Shares of CRH stock opened at $94.19 on Friday. Crh Plc has a 1-year low of $90.21 and a 1-year high of $131.55. The firm has a market cap of $62.66 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33. The company has a 50-day moving average of $99.69 and a two-hundred day moving average of $106.49.

CRH (NYSE:CRH) last released its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business had revenue of $10.78 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the previous year, the firm earned $1.94 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Crh Plc will post 5.9 EPS for the current fiscal year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 1.7%. CRH’s payout ratio is presently 27.51%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CRH shares. Weiss Ratings raised shares of CRH from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, July 31st. DA Davidson started coverage on CRH in a report on Monday, August 24th. They issued a “buy” rating and a $137.00 price objective on the stock. Jefferies Financial Group increased their price objective on CRH from $149.00 to $165.60 and gave the stock a “buy” rating in a research report on Friday, June 26th. Sanford C. Bernstein reissued an “outperform” rating on shares of CRH in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company reduced their target price on CRH from $135.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $140.57.

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.