Crh Plc $CRH Shares Sold by PointState Capital LP

Key Points

• PointState Capital LP reduced its stake in CRH Plc by 52.8% during the first quarter, now holding approximately 2.4 million shares, making it the fund's 10th largest position.
• Vanguard Group Inc. significantly increased its investment in CRH by 62.8%, now owning over 63 million shares, positioning it as a major institutional investor.
• CRH announced a quarterly dividend of $0.37 per share, with a payout ratio of 23.22%, reflecting a 1.3% dividend yield for investors.

PointState Capital LP lowered its position in shares of Crh Plc (NYSE:CRH - Free Report) by 52.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,395,065 shares of the construction company's stock after selling 2,684,135 shares during the period. CRH accounts for approximately 3.1% of PointState Capital LP's investment portfolio, making the stock its 10th biggest holding. PointState Capital LP owned approximately 0.35% of CRH worth $210,694,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CRH. Vanguard Group Inc. boosted its holdings in shares of CRH by 62.8% in the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock valued at $5,608,567,000 after purchasing an additional 24,591,538 shares in the last quarter. Nuveen LLC acquired a new stake in shares of CRH in the 1st quarter valued at $597,888,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of CRH by 43.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after purchasing an additional 3,108,416 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CRH by 58,695.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,830,994 shares of the construction company's stock valued at $249,043,000 after purchasing an additional 2,826,179 shares in the last quarter. Finally, AGF Management Ltd. boosted its holdings in shares of CRH by 195.0% in the 1st quarter. AGF Management Ltd. now owns 3,052,011 shares of the construction company's stock valued at $268,485,000 after purchasing an additional 2,017,484 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Wall Street Analyst Weigh In

CRH has been the topic of several recent research reports. JPMorgan Chase & Co. began coverage on CRH in a report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 price objective on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research report on Tuesday, September 2nd. Vertical Research raised CRH to a "strong-buy" rating in a research report on Friday, August 1st. Sanford C. Bernstein raised their target price on CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, DA Davidson reaffirmed a "neutral" rating and set a $105.00 target price (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $116.00.

CRH Stock Performance

Shares of CRH stock traded up $2.55 during mid-day trading on Thursday, hitting $113.81. The company's stock had a trading volume of 1,679,564 shares, compared to its average volume of 5,418,413. Crh Plc has a 52 week low of $76.75 and a 52 week high of $114.40. The company has a market cap of $76.56 billion, a PE ratio of 23.81, a P/E/G ratio of 1.44 and a beta of 1.31. The company's fifty day simple moving average is $103.77 and its 200-day simple moving average is $96.50.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.94 EPS 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 the consensus estimate of $10.27 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. The business's quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 22nd. CRH's payout ratio 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.