Crh Plc $CRH Stock: Titleist Asset Management LLC Reduces Stake

Titleist Asset Management LLC lowered its stake in shares of Crh Plc (NYSE:CRH) by 61.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,349 shares of the construction company’s stock after selling 7,073 shares during the period. Titleist Asset Management LLC’s holdings in CRH were worth $360,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Amundi raised its holdings in CRH by 74.7% in the 1st quarter. Amundi now owns 5,965,814 shares of the construction company’s stock valued at $627,126,000 after acquiring an additional 2,550,178 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of CRH by 441.4% in the 1st quarter. Hsbc Holdings PLC now owns 1,468,493 shares of the construction company’s stock worth $154,218,000 after acquiring an additional 1,197,255 shares during the period. L1 Capital International Pty Ltd grew its holdings in shares of CRH by 339.6% during the 4th quarter. L1 Capital International Pty Ltd now owns 1,183,012 shares of the construction company’s stock worth $147,640,000 after purchasing an additional 913,906 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of CRH during the first quarter valued at approximately $79,124,000. Finally, Interval Partners LP bought a new stake in shares of CRH during the fourth quarter valued at approximately $68,127,000. Institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

Shares of CRH stock opened at $81.57 on Friday. Crh Plc has a 52 week low of $80.13 and a 52 week high of $131.55. The stock has a market capitalization of $54.27 billion, a PE ratio of 14.39, a PEG ratio of 1.61 and a beta of 1.31. The stock’s fifty day moving average is $91.02 and its 200-day moving average is $101.77.

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 return on equity of 15.76% and a net margin of 9.93%. The business had revenue of $10.78 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the previous year, the business posted $1.94 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts forecast that Crh Plc will post 5.90 earnings per share for the current fiscal year.

CRH Announces Dividend

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

Analyst Upgrades and Downgrades

CRH has been the subject of several research reports. Morgan Stanley assumed coverage on CRH in a research report on Friday, September 11th. They issued an “overweight” rating and a $139.00 target price for the company. Wells Fargo & Company lowered their price target on shares of CRH from $107.00 to $106.00 and set an “overweight” rating on the stock in a report on Monday. DA Davidson began coverage on shares of CRH in a research note on Monday, August 24th. They issued a “buy” rating and a $137.00 price objective for the company. Truist Financial reduced their price objective on shares of CRH from $130.00 to $105.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Jefferies Financial Group lifted their target price on shares of CRH from $149.00 to $165.60 and gave the company a “buy” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $131.61.

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.