Cevian Capital II GP LTD Has $481.74 Million Holdings in Crh Plc $CRH

Key Points

• Cevian Capital II GP LTD has decreased its stake in CRH Plc by 23.2%, now holding 5,476,229 shares valued at approximately $481.74 million.
• CRH Plc reported $1.94 earnings per share for the last quarter, missing expectations of $2.06, with revenues of $10.21 billion, slightly below the anticipated $10.27 billion.
• The company declared a quarterly dividend of $0.37 per share, representing an annualized yield of 1.3%, with a payout ratio of 23.22%.

Cevian Capital II GP LTD decreased its stake in Crh Plc (NYSE:CRH - Free Report) by 23.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,476,229 shares of the construction company's stock after selling 1,650,000 shares during the period. CRH accounts for approximately 20.2% of Cevian Capital II GP LTD's holdings, making the stock its 3rd largest position. Cevian Capital II GP LTD owned approximately 0.81% of CRH worth $481,744,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Cinctive Capital Management LP bought a new position in shares of CRH in the 1st quarter valued at about $3,828,000. AQR Capital Management LLC grew its holdings in CRH by 26.2% during the first quarter. AQR Capital Management LLC now owns 2,173,805 shares of the construction company's stock worth $186,665,000 after purchasing an additional 451,019 shares during the period. Advisors Asset Management Inc. grew its holdings in CRH by 3.6% during the first quarter. Advisors Asset Management Inc. now owns 91,024 shares of the construction company's stock worth $8,007,000 after purchasing an additional 3,185 shares during the period. Alyeska Investment Group L.P. grew its holdings in CRH by 25.2% during the first quarter. Alyeska Investment Group L.P. now owns 184,070 shares of the construction company's stock worth $16,193,000 after purchasing an additional 37,032 shares during the period. Finally, Amundi grew its holdings in 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 purchasing an additional 843,806 shares during the period. Institutional investors own 62.50% of the company's stock.

CRH Stock Up 0.5%

Shares of CRH stock opened at $111.78 on Thursday. Crh Plc has a twelve month low of $76.75 and a twelve month high of $114.40. The stock has a market cap of $75.19 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 1.45 and a beta of 1.31. The company's fifty day moving average is $101.82 and its 200 day moving average is $96.30.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data 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). CRH had a return on equity of 15.68% and a net margin of 9.09%.The business had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the prior year, the firm earned $1.88 EPS. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders 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 dividend on an annualized basis and a yield of 1.3%. CRH's dividend payout ratio is 23.22%.

Analysts Set New Price Targets

CRH has been the subject of a number of research analyst reports. DA Davidson restated a "neutral" rating and set a $105.00 price objective (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. Morgan Stanley restated an "overweight" rating on shares of CRH in a report on Tuesday. Sanford C. Bernstein assumed coverage on CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of CRH in a research report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price target for the company. Finally, Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, CRH has a consensus rating of "Buy" and an average target price of $114.64.

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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