Massachusetts Financial Services Co. MA Purchases 2,499,558 Shares of Crh Plc $CRH

Massachusetts Financial Services Co. MA raised its position in Crh Plc (NYSE:CRH) by 24.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 12,803,346 shares of the construction company’s stock after purchasing an additional 2,499,558 shares during the period. Massachusetts Financial Services Co. MA’s holdings in CRH were worth $1,175,347,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in CRH in the second quarter valued at $27,000. Park Place Capital Corp lifted its stake in shares of 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 purchasing an additional 115 shares during the period. GW&K Investment Management LLC boosted its position in shares of CRH by 86.7% during the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company’s stock valued at $39,000 after purchasing an additional 208 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of CRH by 255.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 426 shares of the construction company’s stock valued at $39,000 after purchasing an additional 306 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in CRH during the first quarter worth approximately $47,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Price Performance

Shares of CRH stock opened at $109.62 on Friday. The firm has a 50-day moving average of $115.78 and a 200-day moving average of $104.37. Crh Plc has a one year low of $76.75 and a one year high of $121.99. The company has a market cap of $73.74 billion, a P/E ratio of 22.93, a P/E/G ratio of 1.68 and a beta of 1.32.

CRH (NYSE:CRH) last issued its quarterly earnings data on Wednesday, November 5th. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.27. The business had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $10.15 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.97 EPS. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. As a group, research analysts expect that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 21st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 21st. CRH’s dividend payout ratio (DPR) is presently 22.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. DA Davidson increased their price target on CRH from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America initiated coverage on shares of CRH in a research note on Friday, September 26th. They issued a “buy” rating and a $128.00 price target for the company. Truist Financial boosted their target price on CRH from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Barclays increased their price target on CRH from $110.00 to $131.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of CRH from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday. Two investment 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 data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $129.54.

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.