44,608 Shares in Crh Plc (NYSE:CRH) Purchased by Varenne Capital Partners

Key Points

• Varenne Capital Partners acquired 44,608 shares of CRH Plc, reflecting a strategy to invest approximately $3.9 million, which makes CRH the firm's 15th largest position in its investment portfolio.
• CRH recently reported quarterly earnings, showing EPS of $1.94, which fell short of the consensus estimate, while revenue of $10.21 billion was slightly below expectations.
• The company announced a quarterly dividend of $0.37 per share to be paid on September 24th, with a current dividend yield of 1.3%.

Varenne Capital Partners acquired a new position in Crh Plc (NYSE:CRH - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,608 shares of the construction company's stock, valued at approximately $3,924,000. CRH accounts for approximately 1.4% of Varenne Capital Partners' investment portfolio, making the stock its 15th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diversify Advisory Services LLC grew its stake in CRH by 5.0% in the 1st quarter. Diversify Advisory Services LLC now owns 2,572 shares of the construction company's stock worth $240,000 after acquiring an additional 123 shares in the last quarter. Callan Family Office LLC grew its stake in CRH by 4.4% in the 1st quarter. Callan Family Office LLC now owns 3,074 shares of the construction company's stock worth $270,000 after acquiring an additional 129 shares in the last quarter. Yousif Capital Management LLC grew its stake in CRH by 1.7% in the 1st 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 in the last quarter. Fifth Third Bancorp grew its stake in CRH by 0.9% in the 1st 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 in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in CRH by 1.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 10,387 shares of the construction company's stock worth $914,000 after acquiring an additional 141 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Trading Up 1.7%

NYSE CRH opened at $113.92 on Thursday. The firm's fifty day simple moving average is $95.38 and its two-hundred day simple moving average is $95.20. Crh Plc has a 12-month low of $76.75 and a 12-month high of $113.95. The firm has a market capitalization of $76.97 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.44 and a beta of 1.26.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%. The firm had revenue of $10.21 billion during the quarter, compared to analysts' expectations of $10.27 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. CRH's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, August 22nd. CRH's payout ratio is presently 23.22%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. DA Davidson reiterated a "neutral" rating and set a $105.00 price objective (down from $120.00) on shares of CRH in a research note on Thursday, July 10th. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research note on Friday, August 1st. Sanford C. Bernstein assumed coverage on shares of CRH in a research note on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective on the stock. The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $112.00 price objective (up from $108.00) on shares of CRH in a research note on Friday, August 8th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $113.18.

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.

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