QRG Capital Management Inc. Cuts Stake in Crh Plc $CRH

QRG Capital Management Inc. trimmed its holdings in shares of Crh Plc (NYSE:CRH) by 28.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,101 shares of the construction company’s stock after selling 80,154 shares during the period. QRG Capital Management Inc.’s holdings in CRH were worth $24,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CRH. Salomon & Ludwin LLC purchased a new position in CRH during the third quarter valued at approximately $32,000. Creekmur Asset Management LLC bought a new position in shares of CRH in the 2nd quarter worth $27,000. Park Place Capital Corp boosted its position 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 worth $29,000 after purchasing an additional 115 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of CRH by 1,835.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock valued at $30,000 after purchasing an additional 312 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in CRH by 255.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 426 shares of the construction company’s stock worth $39,000 after purchasing an additional 306 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

CRH stock opened at $123.08 on Friday. The firm’s fifty day moving average is $121.71 and its 200 day moving average is $113.58. The firm has a market cap of $82.50 billion, a PE ratio of 24.52, a P/E/G ratio of 1.80 and a beta of 1.34. Crh Plc has a one year low of $76.75 and a one year high of $131.55.

CRH (NYSE:CRH) last issued its quarterly earnings results on Wednesday, November 5th. The construction company reported $2.21 EPS for the quarter, topping the consensus estimate of $1.94 by $0.27. CRH had a net margin of 9.30% and a return on equity of 16.25%. The company had revenue of $11.07 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the previous year, the firm earned $1.97 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. Research analysts predict that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Friday, November 21st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, November 21st. CRH’s payout ratio is presently 22.11%.

Wall Street Analyst Weigh In

CRH has been the topic of several research reports. UBS Group upped their target price on CRH from $138.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Longbow Research began coverage on CRH in a report on Tuesday, December 16th. They issued a “buy” rating and a $160.00 price objective on the stock. Truist Financial raised their price objective on CRH from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada reduced their price target on shares of CRH from $152.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Finally, Bank of America assumed coverage on shares of CRH in a report on Friday, September 26th. They issued a “buy” rating and a $128.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, CRH currently has an average rating of “Moderate Buy” and an average target price of $136.20.

CRH Company 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.