Coronation Fund Managers Ltd. Purchases Shares of 18,705 Crh Plc (NYSE:CRH)

Coronation Fund Managers Ltd. purchased a new stake in Crh Plc (NYSE:CRH) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,705 shares of the construction company’s stock, valued at approximately $1,645,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in CRH by 62.8% in the first quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company’s stock valued at $5,608,567,000 after purchasing an additional 24,591,538 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 acquiring an additional 3,108,416 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 acquiring an additional 221,038 shares during the period. Deutsche Bank AG boosted its stake in shares of CRH by 10.7% during the 1st quarter. Deutsche Bank AG now owns 5,222,060 shares of the construction company’s stock worth $459,385,000 after acquiring an additional 504,463 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of CRH by 43.5% during the 4th quarter. Millennium Management LLC now owns 4,813,580 shares of the construction company’s stock worth $445,352,000 after acquiring an additional 1,458,303 shares during the period. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. DA Davidson reiterated 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. Vertical Research upgraded CRH to a “strong-buy” rating in a research note on Friday, August 1st. The Goldman Sachs Group reiterated a “neutral” rating on shares of CRH in a research note on Tuesday, May 6th. Morgan Stanley reiterated an “overweight” rating on shares of CRH in a research note on Friday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $112.00 target price (up from $108.00) on shares of CRH in a research note on Friday. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $113.18.

CRH Price Performance

Shares of NYSE CRH opened at $109.56 on Friday. The stock has a market capitalization of $74.02 billion, a PE ratio of 22.92, a P/E/G ratio of 1.41 and a beta of 1.26. The business has a fifty day moving average price of $94.17 and a two-hundred day moving average price of $94.95. Crh Plc has a fifty-two week low of $76.75 and a fifty-two week high of $110.97.

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

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.4%. CRH’s payout ratio is currently 23.22%.

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.