Allspring Global Investments Holdings LLC Trims Position in Crh Plc (NYSE:CRH)

Allspring Global Investments Holdings LLC decreased its position in shares of Crh Plc (NYSE:CRH) by 45.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,207 shares of the construction company’s stock after selling 60,645 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CRH were worth $6,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CRH. Covestor Ltd boosted its holdings in CRH by 20.4% in the 4th quarter. Covestor Ltd now owns 755 shares of the construction company’s stock valued at $70,000 after purchasing an additional 128 shares during the last quarter. Parallel Advisors LLC raised its position in shares of CRH by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company’s stock valued at $630,000 after buying an additional 129 shares during the period. First Eagle Investment Management LLC lifted its holdings in CRH by 3.2% in the fourth quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock valued at $405,000 after acquiring an additional 136 shares during the last quarter. Yousif Capital Management LLC grew its position in CRH by 1.7% in the first quarter. Yousif Capital Management LLC now owns 8,196 shares of the construction company’s stock worth $721,000 after acquiring an additional 139 shares during the period. Finally, Fifth Third Bancorp grew its position in CRH by 0.9% in the first quarter. Fifth Third Bancorp now owns 15,257 shares of the construction company’s stock worth $1,342,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Up 0.8%

CRH stock opened at $95.25 on Friday. Crh Plc has a 52-week low of $72.32 and a 52-week high of $110.97. The company’s 50 day moving average is $93.39 and its two-hundred day moving average is $94.47. The firm has a market cap of $64.36 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26.

CRH (NYSE:CRH) last released its earnings results on Monday, May 5th. The construction company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.77 billion. CRH had a return on equity of 15.88% and a net margin of 9.17%. On average, equities research analysts anticipate that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Friday, May 23rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, May 23rd. CRH’s dividend payout ratio is presently 23.52%.

Analyst Upgrades and Downgrades

CRH has been the topic of several recent analyst reports. Loop Capital assumed coverage on CRH in a research note on Wednesday, April 9th. They issued a “buy” rating and a $114.00 price target on the stock. Royal Bank Of Canada lowered their target price on shares of CRH from $127.00 to $108.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Morgan Stanley restated an “overweight” rating on shares of CRH in a report on Wednesday, May 7th. Finally, Sanford C. Bernstein began coverage on shares of CRH in a research report on Tuesday, May 13th. They set an “outperform” rating and a $115.00 price objective for the company. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $114.18.

CRH Company Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.