Quarry LP Has $611,000 Position in Crh Plc $CRH

Key Points

• Quarry LP significantly increased its stake in CRH Plc by 530.7%, accumulating a total of 6,950 shares valued at $611,000 as disclosed to the SEC.
• CRH reported earnings of $1.94 per share for the quarter, missing estimates, while its revenue was $10.21 billion, up 5.7% year-over-year.
• The company announced a quarterly dividend of $0.37 per share, translating to an annualized yield of 1.3%, set to be paid on September 24th.

Quarry LP grew its position in Crh Plc (NYSE:CRH - Free Report) by 530.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,950 shares of the construction company's stock after acquiring an additional 5,848 shares during the period. Quarry LP's holdings in CRH were worth $611,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CRH. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 24,591,538 shares during the last quarter. Nuveen LLC bought a new position in CRH in the 1st quarter worth approximately $597,888,000. Massachusetts Financial Services Co. MA raised 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 worth $906,424,000 after purchasing an additional 3,108,416 shares during the last quarter. AGF Management Ltd. raised its position in CRH by 195.0% in the 1st quarter. AGF Management Ltd. now owns 3,052,011 shares of the construction company's stock worth $268,485,000 after purchasing an additional 2,017,484 shares during the last quarter. Finally, Deutsche Bank AG raised its position in CRH by 72.2% in the 4th quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company's stock worth $436,472,000 after purchasing an additional 1,978,225 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Stock Down 0.3%

Shares of CRH traded down $0.38 during trading hours on Thursday, reaching $111.53. The stock had a trading volume of 2,343,067 shares, compared to its average volume of 5,479,389. Crh Plc has a 52 week low of $76.75 and a 52 week high of $114.40. The firm has a 50-day moving average of $101.82 and a 200 day moving average of $96.30. The company has a market cap of $75.02 billion, a P/E ratio of 23.33, a P/E/G ratio of 1.45 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data 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 the consensus estimate 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 in the prior year, the company earned $1.88 EPS. As a group, equities analysts expect that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 22nd. CRH's dividend payout ratio is currently 23.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CRH shares. JPMorgan Chase & Co. started coverage on shares of CRH in a research report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price objective for the company. DA Davidson restated a "neutral" rating and issued a $105.00 price objective (down previously from $120.00) on shares of CRH in a research report on Thursday, July 10th. Morgan Stanley restated an "overweight" rating on shares of CRH in a research report on Tuesday. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein began coverage on shares of CRH in a research report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 target price for the company. Two equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus 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.