Vontobel Holding Ltd. Sells 1,450,667 Shares of Crh Plc $CRH

Vontobel Holding Ltd. lessened its holdings in shares of Crh Plc (NYSE:CRH) by 91.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 137,015 shares of the construction company’s stock after selling 1,450,667 shares during the quarter. Vontobel Holding Ltd.’s holdings in CRH were worth $11,345,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Amundi grew its position in CRH by 74.7% during the 1st quarter. Amundi now owns 5,965,814 shares of the construction company’s stock worth $627,126,000 after acquiring an additional 2,550,178 shares during the last quarter. Hsbc Holdings PLC increased its holdings in CRH by 441.4% during the 1st quarter. Hsbc Holdings PLC now owns 1,468,493 shares of the construction company’s stock valued at $154,218,000 after purchasing an additional 1,197,255 shares in the last quarter. Renaissance Technologies LLC bought a new position in CRH in the 1st quarter valued at $79,124,000. Janus Henderson Group PLC raised its position in CRH by 27.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,186,541 shares of the construction company’s stock valued at $228,994,000 after purchasing an additional 477,242 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in CRH by 1,838.4% in the 2nd quarter. Engineers Gate Manager LP now owns 461,503 shares of the construction company’s stock valued at $49,381,000 after purchasing an additional 437,694 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CRH shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $115.00 price objective (down from $140.00) on shares of CRH in a research note on Tuesday, October 13th. DA Davidson started coverage on CRH in a research note on Monday, August 24th. They issued a “buy” rating and a $137.00 target price for the company. Royal Bank Of Canada cut their price target on CRH from $165.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, October 9th. Truist Financial cut their price target on CRH from $130.00 to $105.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Wells Fargo & Company reduced their price target on shares of CRH from $107.00 to $106.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, CRH currently has a consensus rating of “Buy” and a consensus target price of $127.61.

CRH Price Performance

CRH opened at $83.52 on Friday. Crh Plc has a one year low of $78.62 and a one year high of $131.55. The company’s 50 day simple moving average is $89.22 and its 200-day simple moving average is $100.96. The stock has a market capitalization of $55.56 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.51 and a beta of 1.31.

CRH (NYSE:CRH) last issued its quarterly earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share 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 during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the business posted $1.94 earnings per share. CRH’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts anticipate that Crh Plc will post 5.83 EPS for the current year.

CRH Dividend Announcement

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

About CRH

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its activities include the production and distribution of aggregates, asphalt, ready-mixed concrete, cement and other construction materials, as well as value-added products such as precast concrete, architectural products and site-development solutions.

The company serves customers across North America and Europe, including contractors, construction companies, infrastructure developers, distributors and public-sector organizations.