Neuberger Berman Group LLC has reduced its holdings in **Crh Plc** (NYSE: CRH) by **5.4%**, now owning **1,758,923 shares** valued at approximately **$161.47 million**. This adjustment comes after the firm sold **100,145 shares** during the second quarter of 2023, according to a report from HoldingsChannel.com.
Several other institutional investors have also modified their stakes in CRH. For instance, **Financiere des Professionnels Fonds d’investissement inc.** acquired a new stake valued at about **$246,000** in the same quarter. **Ninety One UK Ltd** increased its investment by **13.1%**, now holding **3,143,490 shares** worth **$288.57 million** after purchasing an additional **364,319 shares**. **HSBC Holdings PLC** significantly boosted its holdings by **100.2%** in the first quarter, now owning **452,776 shares** valued at **$39.32 million**.
Additionally, **Advanced Portfolio Management LLC** invested **$1.15 million** in CRH, while **Summit Securities Group LLC** entered the market with a stake worth **$249,000**. Overall, institutional investors control **62.5%** of CRH’s stock.
Analysts’ Outlook and Stock Performance
Market analysts have recently issued varied ratings on CRH. The **Royal Bank of Canada** lowered its price target from **$152.00** to **$150.00**, maintaining an “outperform” rating. In contrast, **Barclays** raised its target from **$110.00** to **$131.00**, assigning an “overweight” rating. **Wells Fargo & Company** also adjusted its target down slightly from **$135.00** to **$133.00**, while **DA Davidson** increased its target from **$110.00** to **$116.00**, giving the stock a “neutral” rating.
Currently, CRH has received one “Strong Buy” rating, fourteen “Buy” ratings, and two “Hold” ratings. According to data from **MarketBeat.com**, the stock holds a consensus rating of “Moderate Buy” with an average target price of **$130.64**.
As of the market opening on **November 5, 2023**, CRH shares traded at **$126.53**. The stock has fluctuated between a **52-week low of $76.75** and a **high of $127.44**. CRH boasts a market capitalization of **$84.81 billion**, a price-to-earnings ratio of **25.21**, a PEG ratio of **2.05**, and a beta of **1.35**. The company’s **50-day moving average** stands at **$117.36**, while the **200-day moving average** is at **$107.54**.
Financial Results and Dividend Announcement
CRH reported its latest earnings results on **November 5, 2023**. The company achieved an earnings per share (EPS) of **$2.21**, surpassing the consensus estimate of **$1.94** by **$0.27**. Revenue for the quarter reached **$11.07 billion**, exceeding forecasts of **$10.15 billion**. The company recorded a **return on equity of 16.25%** and a **net margin of 9.30%**, with quarterly revenue rising **5.3%** year-over-year.
Looking ahead, CRH has provided guidance for the fiscal year **2025**, projecting EPS in the range of **$5.490 to $5.720**. Analysts anticipate that CRH will report an EPS of **$5.47** for the current fiscal year.
In addition to its financial performance, CRH announced a quarterly dividend of **$0.37**, which will be distributed on **December 17, 2023**. Shareholders on record as of **November 21, 2023** will receive this payment, with the dividend representing an annualized total of **$1.48** and a yield of **1.2%**. The company’s dividend payout ratio currently stands at **22.11%**.
CRH, headquartered in Ireland, is a leading provider of building materials solutions globally. The company operates through four main segments: **Americas Materials Solutions**, **Americas Building Solutions**, **Europe Materials Solutions**, and **Europe Building Solutions**. Its offerings include aggregates, cement, ready-mixed concrete, and asphalt, as well as paving and construction services.
