Engineers Gate Manager LP Increases Holdings in Crh Plc $CRH

Engineers Gate Manager LP grew its position in shares of Crh Plc (NYSE:CRH) by 1,838.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 461,503 shares of the construction company’s stock after acquiring an additional 437,694 shares during the quarter. CRH makes up 0.6% of Engineers Gate Manager LP’s holdings, making the stock its 14th largest holding. Engineers Gate Manager LP’s holdings in CRH were worth $49,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRH. Lazard Asset Management LLC grew its stake in shares of CRH by 4.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company’s stock valued at $245,460,000 after purchasing an additional 93,106 shares during the period. Handelsbanken Fonder AB increased its position in shares of CRH by 13.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 332,198 shares of the construction company’s stock valued at $35,545,000 after purchasing an additional 38,141 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in shares of CRH in the 2nd quarter worth approximately $2,229,000. Quantinno Capital Management LP lifted its stake in shares of CRH by 16.5% in the 1st quarter. Quantinno Capital Management LP now owns 223,644 shares of the construction company’s stock worth $23,507,000 after purchasing an additional 31,603 shares during the period. Finally, SummitTX Capital L.P. boosted its stake in shares of CRH by 13.6% during the 1st quarter. SummitTX Capital L.P. now owns 118,777 shares of the construction company’s stock worth $12,486,000 after acquiring an additional 14,191 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial cut their price target on CRH from $140.00 to $130.00 and set a “buy” rating for the company in a report on Friday, July 31st. Berenberg Bank set a $140.00 price target on CRH in a report on Tuesday. Jefferies Financial Group boosted their price target on shares of CRH from $149.00 to $165.60 and gave the stock a “buy” rating in a research note on Friday, June 26th. Wells Fargo & Company dropped their price objective on shares of CRH from $135.00 to $132.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Finally, Citigroup downgraded shares of CRH from a “buy” rating to a “cautious” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, CRH has a consensus rating of “Buy” and an average target price of $140.54.

CRH Trading Down 3.9%

CRH stock opened at $90.58 on Wednesday. Crh Plc has a 12-month low of $90.21 and a 12-month high of $131.55. The firm has a 50-day moving average price of $99.07 and a 200-day moving average price of $105.92. The firm has a market capitalization of $60.26 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33.

CRH (NYSE:CRH) last posted its quarterly earnings data on Friday, July 31st. The construction company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. The company had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. CRH had a net margin of 9.93% and a return on equity of 15.76%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.94 EPS. As a group, sell-side analysts predict that Crh Plc will post 5.9 earnings per share for the current fiscal year.

CRH Dividend Announcement

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

CRH Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its offerings include aggregates, cement, ready-mixed concrete, asphalt, architectural products, precast concrete and other construction-related materials and services.

The company serves customers across North America and Europe, with operations spanning construction materials, infrastructure products and building solutions. CRH supports projects such as roads, bridges, airports, utilities, commercial buildings and residential developments.

CRH was formed in 1970 through the merger of Cement Limited and Roadstone, two Irish building materials businesses.