Crh Plc $CRH Shares Purchased by Brant Point Investment Management LLC

Key Points

• Brant Point Investment Management LLC increased its holdings in CRH PLC by 133.3% during Q1, acquiring an additional 40,000 shares to hold a total of 70,000 shares valued at approximately $6.16 million.
• CRH reported earnings of $1.94 per share for the latest quarter, falling short of the consensus estimate of $2.06, with a revenue of $10.21 billion.
• The company announced a quarterly dividend of $0.37 per share, which will be paid on September 24th, reflecting an annualized dividend yield of 1.3%.

Brant Point Investment Management LLC grew its position in Crh Plc (NYSE:CRH - Free Report) by 133.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,000 shares of the construction company's stock after buying an additional 40,000 shares during the period. CRH accounts for approximately 0.7% of Brant Point Investment Management LLC's investment portfolio, making the stock its 15th largest position. Brant Point Investment Management LLC's holdings in CRH were worth $6,158,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Transamerica Financial Advisors LLC grew its stake in shares of CRH by 3.4% in the 1st quarter. Transamerica Financial Advisors LLC now owns 6,682 shares of the construction company's stock valued at $588,000 after buying an additional 221 shares during the period. Ieq Capital LLC grew its stake in shares of CRH by 21.6% in the 1st quarter. Ieq Capital LLC now owns 73,102 shares of the construction company's stock valued at $6,431,000 after buying an additional 12,962 shares during the period. Gabelli Funds LLC grew its stake in shares of CRH by 18.3% in the 1st quarter. Gabelli Funds LLC now owns 11,000 shares of the construction company's stock valued at $968,000 after buying an additional 1,700 shares during the period. Findlay Park Partners LLP grew its stake in shares of CRH by 17.0% in the 1st quarter. Findlay Park Partners LLP now owns 2,556,511 shares of the construction company's stock valued at $224,896,000 after buying an additional 372,100 shares during the period. Finally, Baupost Group LLC MA grew its stake in shares of CRH by 2.0% in the 1st quarter. Baupost Group LLC MA now owns 2,694,395 shares of the construction company's stock valued at $237,026,000 after buying an additional 52,993 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analysts Set New Price Targets

CRH has been the subject of a number of research analyst reports. Vertical Research raised shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $112.00 price objective (up previously from $108.00) on shares of CRH in a research report on Friday, August 8th. DA Davidson reaffirmed a "neutral" rating and set a $105.00 price objective (down previously from $120.00) on shares of CRH in a research report on Thursday, July 10th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of CRH in a research report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $114.64.

CRH Stock Down 0.3%

CRH stock traded down $0.30 during mid-day trading on Monday, reaching $112.89. 3,532,118 shares of the company's stock were exchanged, compared to its average volume of 4,712,883. The company has a market cap of $75.94 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.45 and a beta of 1.31. Crh Plc has a twelve month low of $76.75 and a twelve month high of $114.40. The company has a fifty day moving average of $100.51 and a 200-day moving average of $96.05.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. During the same quarter in the previous year, the business posted $1.88 earnings per share. CRH's revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect 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 will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 22nd. CRH's dividend payout ratio (DPR) is presently 23.22%.

About CRH

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.