140 Summer Partners LP Sells 110,255 Shares of Crh Plc $CRH

Key Points

• 140 Summer Partners LP reduced its holdings in CRH Plc by 18.8%, selling 110,255 shares and owning 475,417 shares, which represents approximately 5.4% of their investment portfolio.
• CRH reported earnings of $1.94 EPS for the quarter, missing expectations, with a net revenue of $10.21 billion, which is up 5.7% year-over-year.
• The company declared a quarterly dividend of $0.37 per share payable on September 24th, with a dividend yield of 1.3% and a payout ratio of 23.22%.

140 Summer Partners LP lowered its position in shares of Crh Plc (NYSE:CRH - Free Report) by 18.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 475,417 shares of the construction company's stock after selling 110,255 shares during the quarter. CRH accounts for about 5.4% of 140 Summer Partners LP's investment portfolio, making the stock its 10th biggest holding. 140 Summer Partners LP owned about 0.07% of CRH worth $41,822,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in shares of CRH during the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new position in CRH during the fourth quarter worth $32,000. Park Square Financial Group LLC acquired a new position in CRH during the fourth quarter worth $32,000. Colonial Trust Co SC acquired a new position in CRH during the fourth quarter worth $37,000. Finally, GW&K Investment Management LLC increased its position in shares of CRH by 86.7% in the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock valued at $39,000 after acquiring an additional 208 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on CRH shares. Sanford C. Bernstein started coverage on CRH in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price on the stock. JPMorgan Chase & Co. started coverage on CRH in a research report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 target price on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research report on Tuesday. 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 note on Thursday, July 10th. Finally, Vertical Research raised CRH to a "strong-buy" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, CRH presently has a consensus rating of "Buy" and an average price target of $114.64.

CRH Price Performance

CRH stock traded up $0.63 during midday trading on Friday, hitting $112.24. The company's stock had a trading volume of 3,599,695 shares, compared to its average volume of 4,118,219. Crh Plc has a 1-year low of $76.75 and a 1-year high of $114.40. The company has a 50-day moving average price of $102.68 and a two-hundred day moving average price of $96.26. The company has a market cap of $75.50 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.46 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%.The business had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. During the same quarter last year, the firm earned $1.88 EPS. CRH's revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts forecast that Crh Plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

The company also recently announced 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 payout ratio is presently 23.22%.

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.