Maverick Capital Ltd. Buys 3,342 Shares of Crh Plc $CRH

Key Points

• Maverick Capital Ltd. significantly increased its holdings in CRH Plc by 140% during the first quarter, now owning shares worth approximately $504,000.
• CRH has received positive analyst ratings, with two analysts$114.64.
• The company recently declared a quarterly dividend of $0.37, which will yield around 1.3% annually.

Maverick Capital Ltd. boosted its position in Crh Plc (NYSE:CRH - Free Report) by 140.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,729 shares of the construction company's stock after buying an additional 3,342 shares during the quarter. Maverick Capital Ltd.'s holdings in CRH were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRH. Mercer Global Advisors Inc. ADV boosted its position in shares of CRH by 1.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,226 shares of the construction company's stock valued at $1,964,000 after acquiring an additional 349 shares during the period. AXA S.A. grew its position in CRH by 23.1% in the 4th quarter. AXA S.A. now owns 133,108 shares of the construction company's stock worth $12,315,000 after purchasing an additional 24,944 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in CRH in the 4th quarter worth $13,604,000. Benjamin Edwards Inc. grew its position 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 last quarter. Finally, Baird Financial Group Inc. grew its position 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 last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRH has been the topic of several research analyst reports. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. 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 on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 price target (up from $108.00) on shares of CRH in a research report on Friday, August 8th. JPMorgan Chase & Co. started coverage on shares of CRH in a research report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 target price on the stock. Finally, DA Davidson reiterated 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 company's stock. According to MarketBeat.com, CRH has an average rating of "Buy" and a consensus target price of $114.64.

CRH Stock Up 0.6%

CRH stock traded up $0.63 during mid-day trading on Friday, hitting $112.24. 3,599,695 shares of the company were exchanged, compared to its average volume of 4,118,219. The company has a market capitalization of $75.50 billion, a PE ratio of 23.48, 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. The business has a fifty day moving average of $102.68 and a 200 day moving average of $96.33.

CRH (NYSE:CRH - Get Free Report) last released its quarterly 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). The firm 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%. CRH's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. Research analysts expect that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

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 $0.37 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. CRH's payout ratio is 23.22%.

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.