GAM Holding AG Invests $13.37 Million in Crh Plc $CRH

GAM Holding AG purchased a new position in shares of Crh Plc (NYSE:CRH) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 145,403 shares of the construction company’s stock, valued at approximately $13,374,000. CRH makes up 0.9% of GAM Holding AG’s investment portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of CRH by 62.8% during the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company’s stock worth $5,608,567,000 after purchasing an additional 24,591,538 shares in the last quarter. Massachusetts Financial Services Co. MA raised 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 purchasing an additional 3,108,416 shares in the last quarter. Bank of New York Mellon Corp raised 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 purchasing an additional 221,038 shares in the last quarter. Boston Partners raised its stake in shares of CRH by 5.9% during the 1st quarter. Boston Partners now owns 8,822,801 shares of the construction company’s stock worth $775,349,000 after purchasing an additional 493,796 shares in the last quarter. Finally, Amundi raised its stake in shares of CRH by 11.8% during the 1st quarter. Amundi now owns 7,979,264 shares of the construction company’s stock worth $689,009,000 after purchasing an additional 843,806 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CRH shares. Barclays raised their price target on CRH from $110.00 to $131.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Royal Bank Of Canada increased their price objective on CRH from $112.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. assumed coverage on CRH in a report on Friday, October 24th. They set an “overweight” rating on the stock. DA Davidson reissued a “neutral” rating and set a $105.00 price objective (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. Finally, Wells Fargo & Company raised CRH to a “strong-buy” rating in a report on Wednesday, October 8th. Four research 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 stock. According to data from MarketBeat, CRH currently has an average rating of “Buy” and an average target price of $127.71.

CRH Stock Down 1.0%

Shares of NYSE CRH opened at $117.32 on Friday. The business’s 50 day moving average is $115.39 and its two-hundred day moving average is $102.30. The company has a market cap of $78.91 billion, a P/E ratio of 24.54, a P/E/G ratio of 1.68 and a beta of 1.32. Crh Plc has a 12 month low of $76.75 and a 12 month high of $121.99.

CRH (NYSE:CRH) last issued its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.12). The business had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.The business’s quarterly 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. Sell-side analysts expect that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd were given 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%.

About CRH

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.