Alyeska Investment Group L.P. Raises Holdings in Crh Plc $CRH

Key Points

• Alyeska Investment Group L.P. increased its stake in Crh Plc by 25.2%, acquiring an additional 37,032 shares and holding a total of 184,070 shares valued at $16.19 million.
• Crh Plc reported earnings of $1.94 per share, missing estimates, with quarterly revenue at $10.21 billion, which is 5.7% higher year-over-year.
• The company declared a quarterly dividend of $0.37 per share with an annualized yield of 1.3%, set to be paid on September 24th to shareholders recorded on August 22nd.

Alyeska Investment Group L.P. grew its position in shares of Crh Plc (NYSE:CRH - Free Report) by 25.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,070 shares of the construction company's stock after purchasing an additional 37,032 shares during the period. Alyeska Investment Group L.P.'s holdings in CRH were worth $16,193,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Amundi boosted its stake in shares of CRH by 11.8% during the first quarter. Amundi now owns 7,979,264 shares of the construction company's stock worth $689,009,000 after buying an additional 843,806 shares during the period. Ancora Advisors LLC boosted its position in CRH by 2.4% during the 1st quarter. Ancora Advisors LLC now owns 191,973 shares of the construction company's stock worth $16,888,000 after purchasing an additional 4,551 shares during the period. Dark Forest Capital Management LP raised its stake in shares of CRH by 89.2% in the 1st quarter. Dark Forest Capital Management LP now owns 271,110 shares of the construction company's stock valued at $23,850,000 after purchasing an additional 127,852 shares in the last quarter. Maverick Capital Ltd. raised its stake in CRH by 140.0% during the first quarter. Maverick Capital Ltd. now owns 5,729 shares of the construction company's stock worth $504,000 after acquiring an additional 3,342 shares during the period. Finally, L1 Capital Pty Ltd raised its stake in CRH by 31.6% during the first quarter. L1 Capital Pty Ltd now owns 1,142,437 shares of the construction company's stock worth $100,500,000 after acquiring an additional 274,062 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CRH shares. Sanford C. Bernstein initiated coverage on shares of CRH in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price target for the company. DA Davidson reissued a "neutral" rating and set a $105.00 price target (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 price objective (up previously from $108.00) on shares of CRH in a research report on Friday, August 8th. Morgan Stanley restated an "overweight" rating on shares of CRH in a report on Tuesday, September 2nd. Finally, Vertical Research upgraded shares of CRH to a "strong-buy" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $114.64.

CRH Stock Performance

CRH traded up $0.37 during mid-day trading on Wednesday, reaching $111.09. 1,141,524 shares of the stock were exchanged, compared to its average volume of 5,424,504. The company has a 50 day moving average price of $103.44 and a two-hundred day moving average price of $96.40. The stock has a market capitalization of $74.73 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. Crh Plc has a 1 year low of $76.75 and a 1 year high of $114.40.

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

CRH Announces Dividend

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

CRH 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.