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

Carmignac Gestion acquired a new stake in shares of Crh Plc (NYSE:CRH) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 17,183 shares of the construction company’s stock, valued at approximately $1,839,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Continuum Advisory LLC bought a new stake in shares of CRH in the 2nd quarter worth about $29,000. Riggs Asset Managment Co. Inc. grew its holdings in CRH by 1,835.3% during 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. Bell Investment Advisors Inc raised its position in CRH by 51.2% in the 1st quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company’s stock worth $32,000 after purchasing an additional 103 shares during the period. Kemnay Advisory Services Inc. bought a new stake in CRH in the fourth quarter worth about $33,000. Finally, Elyxium Wealth LLC purchased a new position in shares of CRH during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Trading Down 3.9%

Shares of CRH stock traded down $3.68 on Tuesday, hitting $90.58. 6,264,522 shares of the company traded hands, compared to its average volume of 4,877,652. The company has a market cap of $60.26 billion, a PE ratio of 15.98, a PEG ratio of 1.71 and a beta of 1.33. The stock’s 50 day moving average price is $99.40 and its 200-day moving average price is $106.16. Crh Plc has a 52 week low of $90.21 and a 52 week high of $131.55.

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

CRH Dividend Announcement

The company 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 $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, August 14th. CRH’s payout ratio is presently 27.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings raised CRH from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, July 31st. Sanford C. Bernstein restated an “outperform” rating on shares of CRH in a report on Tuesday, June 23rd. Stephens dropped their price objective on CRH from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Truist Financial cut their price objective on CRH from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Finally, Berenberg Bank set a $140.00 target price on CRH in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $140.54.

About CRH

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.