Cinctive Capital Management LP Purchases Shares of 43,515 Crh Plc $CRH

Key Points

• Cinctive Capital Management LP acquired a new stake in Crh Plc by purchasing 43,515 shares, valued at approximately $3.83 million, during the first quarter.
• Investor sentiment remains positive, with analysts issuing a consensus rating of "Buy" and an average target price of $114.64 for CRH shares.
• CRH recently declared a quarterly dividend of $0.37 per share, yielding approximately 1.3% on an annualized basis, with the payment scheduled for September 24.

Cinctive Capital Management LP purchased a new position in Crh Plc (NYSE:CRH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 43,515 shares of the construction company's stock, valued at approximately $3,828,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRH. Mercer Global Advisors Inc. ADV grew its stake in CRH by 1.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,226 shares of the construction company's stock valued at $1,964,000 after purchasing an additional 349 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in CRH by 15.4% in the 4th quarter. Benjamin Edwards Inc. now owns 19,119 shares of the construction company's stock worth $1,769,000 after purchasing an additional 2,558 shares during the period. Baird Financial Group Inc. raised its holdings in CRH by 21.0% in the 4th quarter. Baird Financial Group Inc. now owns 21,285 shares of the construction company's stock worth $1,969,000 after purchasing an additional 3,692 shares during the period. Cary Street Partners Financial LLC purchased a new stake in CRH during the 4th quarter worth approximately $570,000. Finally, Captrust Financial Advisors increased its stake in CRH by 29.9% during the 4th quarter. Captrust Financial Advisors now owns 10,341 shares of the construction company's stock worth $957,000 after buying an additional 2,383 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Price Performance

Shares of NYSE CRH traded down $0.38 during mid-day trading on Monday, hitting $111.98. The company had a trading volume of 3,899,040 shares, compared to its average volume of 5,466,899. The company has a market capitalization of $75.32 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.46 and a beta of 1.31. Crh Plc has a 1-year low of $76.75 and a 1-year high of $114.40. The business's 50-day simple moving average is $102.68 and its 200 day simple moving average is $96.22.

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 (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm's revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 earnings per share. On average, analysts expect that Crh Plc will post 5.47 EPS for the current 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 $0.37 dividend. This represents a $1.48 annualized dividend 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%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRH shares. 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. 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. JPMorgan Chase & Co. started coverage on CRH in a research note on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price objective for the company. Sanford C. Bernstein started coverage on CRH in a research note on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective for the company. Finally, Vertical Research upgraded 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 assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $114.64.

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.