Bank of New York Mellon Corp Purchases 603,082 Shares of Crh Plc $CRH

Bank of New York Mellon Corp increased its position in shares of Crh Plc (NYSE:CRH) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,788,282 shares of the construction company’s stock after acquiring an additional 603,082 shares during the quarter. Bank of New York Mellon Corp’s holdings in CRH were worth $1,173,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CRH in the 2nd quarter valued at about $1,007,932,000. Eleva Capital SAS bought a new position in CRH in the second quarter valued at approximately $250,562,000. Massachusetts Financial Services Co. MA boosted its stake in CRH by 24.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,803,346 shares of the construction company’s stock valued at $1,175,347,000 after acquiring an additional 2,499,558 shares during the last quarter. Marshall Wace LLP grew its holdings in CRH by 45.3% during the 2nd quarter. Marshall Wace LLP now owns 6,031,903 shares of the construction company’s stock worth $553,729,000 after acquiring an additional 1,881,550 shares during the period. Finally, Baupost Group LLC MA raised its position in shares of CRH by 42.0% during the 2nd quarter. Baupost Group LLC MA now owns 3,825,395 shares of the construction company’s stock valued at $351,171,000 after acquiring an additional 1,131,000 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on CRH. UBS Group raised their price target on CRH from $138.00 to $147.00 and gave the stock 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 set a “buy” rating and a $160.00 target price on the stock. Citigroup upped their price target on CRH from $142.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CRH in a research report on Monday, December 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CRH from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.20.

CRH Price Performance

NYSE CRH opened at $123.72 on Wednesday. Crh Plc has a one year low of $76.75 and a one year high of $131.55. The firm has a market cap of $82.92 billion, a P/E ratio of 24.64, a P/E/G ratio of 1.80 and a beta of 1.34. The stock’s 50-day moving average is $123.30 and its 200-day moving average is $115.21.

CRH (NYSE:CRH) last posted its earnings results on Wednesday, November 5th. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.07 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the prior year, the business earned $1.97 EPS. CRH’s revenue for the quarter was up 5.3% compared to the same quarter last year. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. Equities analysts anticipate that Crh Plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

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

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.