Alphinity Investment Management Pty Ltd Sells 1,046,493 Shares of Crh Plc $CRH

Alphinity Investment Management Pty Ltd lessened its holdings in Crh Plc (NYSE:CRH) by 19.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,200,399 shares of the construction company’s stock after selling 1,046,493 shares during the period. CRH makes up 4.9% of Alphinity Investment Management Pty Ltd’s holdings, making the stock its 4th biggest holding. Alphinity Investment Management Pty Ltd’s holdings in CRH were worth $503,628,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Creekmur Asset Management LLC acquired a new position in shares of CRH in the 2nd quarter valued at $27,000. United Community Bank increased its holdings in CRH by 359.6% in the 3rd quarter. United Community Bank now owns 239 shares of the construction company’s stock worth $29,000 after buying an additional 187 shares during the period. Riggs Asset Managment Co. Inc. increased its holdings in CRH by 1,835.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock worth $30,000 after buying an additional 312 shares during the period. Cornerstone Planning Group LLC lifted its stake in CRH by 139.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 268 shares of the construction company’s stock valued at $31,000 after acquiring an additional 156 shares during the period. Finally, Salomon & Ludwin LLC purchased a new stake in shares of CRH in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CRH. Morgan Stanley upped their price target on shares of CRH from $131.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. upped their price objective on CRH from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. UBS Group upped their price objective on shares of CRH from $138.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Jefferies Financial Group restated a “buy” rating on shares of CRH in a research report on Monday, December 1st. Finally, Royal Bank Of Canada reduced their target price on CRH from $152.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CRH presently has an average rating of “Moderate Buy” and a consensus target price of $135.87.

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 P/E ratio of 25.33, a PEG ratio of 1.86 and a beta of 1.33. The stock’s fifty day moving average is $124.70 and its two-hundred day moving average is $116.70.

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 net margin of 9.30% and a return on equity of 16.25%. 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 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Crh Plc will post 5.47 earnings per share for the current year.

CRH 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.