DNB Asset Management AS has decreased its stake in CRH Plc by 9.3% during the second quarter of 2023, as reported in their latest filing with the Securities & Exchange Commission. Following the sale of 18,610 shares, the firm now holds 181,441 shares valued at approximately $16.66 million.
Several other institutional investors have also adjusted their positions in CRH. Creekmur Asset Management LLC initiated a new position worth around $27,000 in the same quarter. Meanwhile, Park Place Capital Corp increased its stake by 59.9%, acquiring an additional 115 shares to bring its total to 307 shares, valued at $29,000.
Additionally, Cullen Frost Bankers Inc. significantly raised its position in CRH by 255.0%, now owning 426 shares worth $39,000 after purchasing an extra 306 shares. Ransom Advisory Ltd also acquired a new stake valued at $47,000 in the first quarter, while Richardson Financial Services Inc. boosted its holdings by 29.4% during the second quarter, owning 678 shares now valued at $63,000. Collectively, institutional investors hold 62.50% of CRH’s stock.
Analysts Adjust Price Targets for CRH
CRH has recently gained attention from multiple analysts who have set new price targets for the stock. Bank of America initiated coverage with a “buy” rating and a price objective of $128.00. Similarly, UBS Group has issued a “buy” rating with a target of $138.00.
On the other hand, Barclays raised its price target from $110.00 to $131.00, maintaining an “overweight” rating. DA Davidson also increased its target from $110.00 to $116.00, giving the stock a “neutral” rating. JPMorgan Chase & Co. further adjusted its target from $130.00 to $135.00, also maintaining an “overweight” rating.
Currently, two analysts have given CRH a “strong buy” rating, while twelve have assigned a “buy” rating and two have issued a “hold” rating. According to data from MarketBeat.com, CRH holds a consensus rating of “buy” with an average target price of $129.54.
CRH Stock Performance and Earnings Update
As of the last trading session, shares of CRH Plc opened at $110.14. The stock has experienced a fifty-two week low of $76.75 and a high of $121.99. With a market capitalization of $73.82 billion, CRH has a price-to-earnings ratio of 23.04 and a price-to-earnings-growth ratio of 1.68. The stock has shown a beta of 1.32.
CRH’s recent quarterly earnings report, released on November 5, 2023, indicated earnings per share (EPS) of $2.21, surpassing analyst expectations of $1.94 by $0.27. The company reported revenue of $11.07 billion, exceeding estimates of $10.15 billion, and reflecting a year-on-year revenue increase of 5.3%. CRH has set its guidance for fiscal year 2025 at an EPS range of 5.490-5.720.
In addition to its performance metrics, CRH has announced a quarterly dividend of $0.37, payable on December 17, 2023, to shareholders recorded by November 21, 2023. This equates to an annualized dividend of $1.48, yielding 1.3% with a payout ratio of 22.11%.
CRH Plc operates internationally, providing building materials solutions through its various segments, including Americas Materials Solutions and Europe Building Solutions. The company is a key player in the construction and maintenance of public infrastructure and residential buildings, producing aggregates, cement, and ready-mixed concrete while also offering paving and construction services.
