Massachusetts Financial Services Co. MA Cuts Stock Holdings in Crh Plc $CRH

Massachusetts Financial Services Co. MA reduced its stake in Crh Plc (NYSE:CRH) by 3.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,361,185 shares of the construction company’s stock after selling 442,161 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.84% of CRH worth $1,482,106,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in shares of CRH in the third quarter valued at about $32,000. Creekmur Asset Management LLC bought a new stake in CRH in the 2nd quarter worth about $27,000. Park Place Capital Corp increased its stake in CRH by 59.9% in the 2nd quarter. Park Place Capital Corp now owns 307 shares of the construction company’s stock valued at $29,000 after buying an additional 115 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of CRH by 1,835.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock worth $30,000 after buying an additional 312 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of CRH by 255.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 426 shares of the construction company’s stock worth $39,000 after buying an additional 306 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRH has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on CRH from $131.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of CRH in a research report on Monday, December 8th. UBS Group boosted their price target on shares of CRH from $138.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Citigroup lifted their price objective on shares of CRH from $142.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, Bank of America began coverage on shares of CRH in a research note on Friday, September 26th. They set a “buy” rating and a $128.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, CRH currently has an average rating of “Moderate Buy” and a consensus price target of $136.20.

CRH Trading Up 0.4%

CRH opened at $123.08 on Friday. Crh Plc has a 12 month low of $76.75 and a 12 month high of $131.55. The company has a market cap of $82.50 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.80 and a beta of 1.34. The company has a 50 day moving average of $121.71 and a 200 day moving average of $113.72.

CRH (NYSE:CRH) last issued its earnings results on Wednesday, November 5th. The construction company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.27. CRH had a net margin of 9.30% and a return on equity of 16.25%. The business had revenue of $11.07 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the previous year, the firm posted $1.97 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. Research analysts forecast 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, December 17th. Shareholders of record on Friday, November 21st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, November 21st. CRH’s payout ratio is presently 22.11%.

CRH Profile

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.