Panoramic Capital LLC Buys 50,998 Shares of Crh Plc $CRH

Key Points

• Panoramic Capital LLC boosted its stake in CRH Plc by 86.4% in Q1, now holding 110,000 shares valued at approximately $9.68 million, making CRH its second-largest investment.
• CRH reported a miss in EPS for the latest quarter, posting $1.94 against the consensus estimate of $2.06, though its revenue increased by 5.7% year-over-year.
• The company declared a quarterly dividend of $0.37 per share, with a yield of 1.3%, representing a payout ratio of 23.22%.

Panoramic Capital LLC lifted its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 86.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,000 shares of the construction company's stock after acquiring an additional 50,998 shares during the period. CRH accounts for about 10.3% of Panoramic Capital LLC's holdings, making the stock its 2nd biggest position. Panoramic Capital LLC's holdings in CRH were worth $9,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRH. Vanguard Group Inc. increased its stake in CRH by 62.8% in the first 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 during the period. Massachusetts Financial Services Co. MA increased its position in 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 acquiring an additional 3,108,416 shares during the period. Bank of New York Mellon Corp lifted its position in CRH by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 8,830,489 shares of the construction company's stock worth $776,818,000 after acquiring an additional 221,038 shares during the period. Boston Partners grew its stake in shares of CRH by 5.9% in the 1st quarter. Boston Partners now owns 8,822,801 shares of the construction company's stock valued at $775,349,000 after purchasing an additional 493,796 shares during the last quarter. Finally, Amundi increased its holdings in shares of CRH by 11.8% in the first quarter. Amundi now owns 7,979,264 shares of the construction company's stock valued at $689,009,000 after purchasing an additional 843,806 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Performance

CRH stock traded up $3.26 during midday trading on Thursday, hitting $114.52. 4,090,899 shares of the stock were exchanged, compared to its average volume of 5,432,766. The stock has a market cap of $77.03 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.44 and a beta of 1.31. Crh Plc has a fifty-two week low of $76.75 and a fifty-two week high of $114.55. The stock's 50-day moving average price is $103.77 and its 200-day moving average price is $96.50.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.The company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.88 EPS. Research analysts anticipate that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

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

Analysts Set New Price Targets

CRH has been the subject of a number of 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 research report on Thursday, July 10th. Sanford C. Bernstein increased their price target on shares of CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday. Vertical Research upgraded CRH to a "strong-buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. assumed coverage on CRH in a research note on Tuesday, August 26th. They set an "overweight" rating and a $130.00 target price for the company. Finally, Morgan Stanley restated an "overweight" rating on shares of CRH in a research note on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $116.00.

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.