Convergence Investment Partners LLC Trims Holdings in Crh Plc $CRH

Convergence Investment Partners LLC trimmed its stake in Crh Plc (NYSE:CRH) by 10.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,446 shares of the construction company’s stock after selling 858 shares during the period. Convergence Investment Partners LLC’s holdings in CRH were worth $684,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in CRH by 62.8% during the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company’s stock worth $5,608,567,000 after buying an additional 24,591,538 shares during the period. Massachusetts Financial Services Co. MA increased its stake in CRH by 43.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company’s stock worth $906,424,000 after buying an additional 3,108,416 shares during the period. Bank of New York Mellon Corp increased its stake in CRH by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 8,830,489 shares of the construction company’s stock worth $776,818,000 after buying an additional 221,038 shares during the period. Boston Partners increased its stake in CRH by 5.9% during the 1st quarter. Boston Partners now owns 8,822,801 shares of the construction company’s stock worth $775,349,000 after buying an additional 493,796 shares during the period. Finally, Amundi increased its stake in CRH by 11.8% during the 1st quarter. Amundi now owns 7,979,264 shares of the construction company’s stock worth $689,009,000 after buying an additional 843,806 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Stock Up 0.7%

NYSE CRH opened at $120.95 on Tuesday. Crh Plc has a 52 week low of $76.75 and a 52 week high of $121.99. The stock has a market capitalization of $81.36 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32. The firm has a 50 day moving average of $114.95 and a two-hundred day moving average of $101.70.

CRH (NYSE:CRH) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd were issued a $0.37 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 1.2%. CRH’s dividend payout ratio is presently 23.22%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRH. DA Davidson reaffirmed a “neutral” rating and set a $105.00 target price (down from $120.00) on shares of CRH in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CRH in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their target price on shares of CRH from $112.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Morgan Stanley set a $134.00 price target on shares of CRH in a report on Thursday, October 9th. Finally, Vertical Research upgraded shares of CRH to a “strong-buy” rating in a report on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, CRH has a consensus rating of “Buy” and a consensus target price of $127.71.

CRH Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.