Davis Rea LTD. Takes Position in Crh Plc $CRH

Davis Rea LTD. purchased a new stake in shares of Crh Plc (NYSE:CRH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 20,000 shares of the construction company’s stock, valued at approximately $1,836,000.

Several other hedge funds also recently modified their holdings of CRH. Park Place Capital Corp increased its position in shares of CRH by 59.9% during 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 increased 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 during the period. Ransom Advisory Ltd acquired a new position in shares of CRH during the 1st quarter valued at $47,000. Deseret Mutual Benefit Administrators increased its position in shares of CRH by 44.6% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 730 shares of the construction company’s stock valued at $64,000 after purchasing an additional 225 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of CRH during the 1st quarter valued at $74,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRH. Bank of America began coverage on CRH in a report on Friday, September 26th. They issued a “buy” rating and a $128.00 target price on the stock. Truist Financial lifted their target price on CRH from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Morgan Stanley set a $134.00 target price on CRH in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of CRH in a report on Wednesday. Finally, UBS Group set a $152.00 target price on CRH in a report on Wednesday, October 1st. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $127.21.

CRH Trading Down 1.2%

Shares of CRH stock opened at $116.21 on Friday. Crh Plc has a 1-year low of $76.75 and a 1-year high of $121.88. The company has a market capitalization of $78.17 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.67 and a beta of 1.32. The stock’s fifty day simple moving average is $112.47 and its 200-day simple moving average is $99.10.

CRH (NYSE:CRH) last issued its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The business had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.27 billion. During the same quarter in the prior year, the firm posted $1.88 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts predict that Crh Plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.37 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. 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.