Carmignac Gestion Makes New $1.84 Million Investment in Crh Plc $CRH

Carmignac Gestion acquired a new position in Crh Plc (NYSE:CRH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,183 shares of the construction company’s stock, valued at approximately $1,839,000.

A number of other large investors also recently modified their holdings of the company. Continuum Advisory LLC purchased a new stake in CRH in the 2nd quarter worth $29,000. Riggs Asset Managment Co. Inc. lifted its position in shares of CRH by 1,835.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock valued at $30,000 after acquiring an additional 312 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in shares of CRH by 51.2% in the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company’s stock worth $32,000 after acquiring an additional 103 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of CRH in the fourth quarter worth about $33,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of CRH during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

CRH has been the topic of several recent analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of CRH in a research note on Tuesday, June 23rd. Truist Financial cut their price objective on shares of CRH from $140.00 to $130.00 and set a “buy” rating for the company in a report on Friday, July 31st. DA Davidson assumed coverage on shares of CRH in a research report on Monday, August 24th. They set a “buy” rating and a $137.00 price objective on the stock. Jefferies Financial Group boosted their target price on shares of CRH from $149.00 to $165.60 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, Stephens cut their target price on shares of CRH from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $140.54.

CRH Price Performance

Shares of NYSE CRH traded down $3.68 during midday trading on Tuesday, reaching $90.58. 6,264,522 shares of the stock traded hands, compared to its average volume of 4,877,652. The company’s 50 day moving average is $99.40 and its 200 day moving average is $106.16. Crh Plc has a one year low of $90.21 and a one year high of $131.55. The stock has a market capitalization of $60.26 billion, a PE ratio of 15.98, a P/E/G ratio of 1.71 and a beta of 1.33.

CRH (NYSE:CRH) last released its quarterly earnings data on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The business had revenue of $10.78 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the business earned $1.94 earnings per share. CRH’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Crh Plc will post 5.9 EPS for the current year.

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 14th. CRH’s payout ratio is presently 27.51%.

CRH Profile

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.