Praxis Investment Management Inc. Invests $1.60 Million in Crh Plc (NYSE:CRH)

Praxis Investment Management Inc. bought a new position in shares of Crh Plc (NYSE:CRH) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,200 shares of the construction company’s stock, valued at approximately $1,601,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRH. Norges Bank bought a new stake in shares of CRH during the fourth quarter worth $1,391,245,000. FMR LLC grew its stake in shares of CRH by 13.0% during the fourth quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock worth $3,781,004,000 after purchasing an additional 4,687,345 shares during the period. Franklin Resources Inc. grew its stake in shares of CRH by 17.0% during the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock worth $1,553,194,000 after purchasing an additional 2,437,868 shares during the period. Deutsche Bank AG grew its stake in shares of CRH by 72.2% during the fourth quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company’s stock worth $436,472,000 after purchasing an additional 1,978,225 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of CRH by 931.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,977,992 shares of the construction company’s stock worth $183,004,000 after purchasing an additional 1,786,189 shares during the period. Institutional investors own 62.50% of the company’s stock.

CRH Trading Down 1.0%

NYSE:CRH opened at $88.11 on Friday. Crh Plc has a 1 year low of $71.18 and a 1 year high of $110.97. The stock has a market cap of $59.53 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.35 and a beta of 1.28. The stock has a 50-day moving average price of $92.31 and a two-hundred day moving average price of $95.01.

CRH (NYSE:CRH) last posted its earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). CRH had a net margin of 9.17% and a return on equity of 15.88%. The business had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.77 billion. Sell-side analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.37 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.48 annualized dividend and a dividend yield of 1.68%. CRH’s dividend payout ratio is currently 23.52%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRH. Morgan Stanley reaffirmed an “overweight” rating on shares of CRH in a research note on Wednesday, May 7th. Sanford C. Bernstein began coverage on CRH in a research note on Tuesday, May 13th. They set an “outperform” rating and a $115.00 price objective for the company. Wall Street Zen raised CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Loop Capital began coverage on CRH in a research note on Wednesday, April 9th. They set a “buy” rating and a $114.00 price objective for the company. Finally, Berenberg Bank set a $120.00 price objective on CRH in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CRH has an average rating of “Buy” and an average target price of $114.18.

CRH Company 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.