Envestnet Asset Management Inc. Acquires 78,187 Shares of Crh Plc $CRH

Envestnet Asset Management Inc. grew its stake in shares of Crh Plc (NYSE:CRH) by 7.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,086,517 shares of the construction company’s stock after purchasing an additional 78,187 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.16% of CRH worth $130,273,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of CRH by 24.7% in the 3rd quarter. Principal Financial Group Inc. now owns 2,269,271 shares of the construction company’s stock worth $272,086,000 after purchasing an additional 448,860 shares during the period. Park Avenue Securities LLC purchased a new position in CRH during the third quarter valued at approximately $4,491,000. Exane Asset Management raised its stake in CRH by 21.2% in the third quarter. Exane Asset Management now owns 663,774 shares of the construction company’s stock worth $80,735,000 after buying an additional 116,178 shares in the last quarter. StoneX Group Inc. purchased a new stake in CRH during the second quarter worth $1,472,000. Finally, Dynasty Wealth Management LLC boosted its position in CRH by 77.5% during the 3rd quarter. Dynasty Wealth Management LLC now owns 34,077 shares of the construction company’s stock valued at $4,086,000 after acquiring an additional 14,877 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

Shares of CRH stock opened at $127.16 on Friday. Crh Plc has a fifty-two week low of $76.75 and a fifty-two week high of $131.55. The firm has a market capitalization of $85.23 billion, a PE ratio of 25.33, a P/E/G ratio of 1.78 and a beta of 1.33. The stock’s 50-day simple moving average is $124.70 and its 200-day simple moving average is $116.55.

CRH (NYSE:CRH) last issued its earnings results on Wednesday, November 5th. The construction company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.27. CRH had a return on equity of 16.25% and a net margin of 9.30%.The firm had revenue of $11.07 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. CRH’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRH has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of CRH in a research report on Monday, December 22nd. Longbow Research started coverage on shares of CRH in a report on Tuesday, December 16th. They issued a “buy” rating and a $160.00 target price for the company. Wells Fargo & Company lowered their price target on shares of CRH from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Thursday, January 29th. DA Davidson lifted their price objective on shares of CRH from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Finally, Citigroup increased their target price on shares of CRH from $142.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $135.87.

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.