Crh Plc $CRH Position Decreased by New England Research & Management Inc.

New England Research & Management Inc. reduced its stake in Crh Plc (NYSE:CRH) by 70.1% during the third quarter, HoldingsChannel reports. The firm owned 4,100 shares of the construction company’s stock after selling 9,617 shares during the period. New England Research & Management Inc.’s holdings in CRH were worth $339,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CRH. Continuum Advisory LLC purchased a new stake in shares of CRH during the 2nd quarter valued at $29,000. Bell Investment Advisors Inc grew its position in CRH by 51.2% in the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company’s stock worth $32,000 after acquiring an additional 103 shares in the last quarter. Cedar Mountain Advisors LLC purchased a new position in CRH in the first quarter worth $38,000. Anchor Investment Management LLC purchased a new position in CRH in the second quarter worth $40,000. Finally, MV Capital Management Inc. bought a new position in CRH in the fourth quarter valued at $68,000. 62.50% of the stock is currently owned by institutional investors.

CRH Price Performance

CRH stock traded up $1.20 during midday trading on Friday, hitting $83.52. The stock had a trading volume of 7,700,050 shares, compared to its average volume of 5,782,471. The firm has a market cap of $55.56 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31. The business has a 50-day moving average of $89.22 and a two-hundred day moving average of $100.96. Crh Plc has a 52-week low of $78.62 and a 52-week high of $131.55.

CRH (NYSE:CRH) last posted its quarterly earnings data on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. The business had revenue of $10.78 billion during the quarter, compared to the consensus estimate of $10.68 billion. CRH had a return on equity of 15.76% and a net margin of 9.93%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.94 earnings per share. Research analysts predict that Crh Plc will post 5.83 earnings per share for the current year.

CRH Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group lowered their price target on CRH from $147.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Citigroup dropped their price target on CRH from $122.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Morgan Stanley started coverage on CRH in a report on Friday, September 11th. They issued an “overweight” rating and a $139.00 price objective for the company. DA Davidson initiated coverage on CRH in a report on Monday, August 24th. They issued a “buy” rating and a $137.00 price objective for the company. Finally, Stephens reduced their price objective on CRH from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, CRH presently has an average rating of “Buy” and a consensus price target of $127.61.

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.