L1 Capital Pty Ltd Has $100.50 Million Position in Crh Plc $CRH

Key Points

• L1 Capital Pty Ltd increased its position in CRH Plc by 31.6% during Q1, owning over 1.14 million shares worth approximately $100.5 million.
• CRH reported Q2 earnings of $1.94 per share, missing analysts' estimates, with revenue reaching $10.21 billion, a year-over-year increase of 5.7%.
• CRH's upcoming dividend of $0.37 per share, with an annual yield of 1.3%, will be paid on September 24th to investors of record on August 22nd.

L1 Capital Pty Ltd increased its stake in Crh Plc (NYSE:CRH - Free Report) by 31.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,142,437 shares of the construction company's stock after acquiring an additional 274,062 shares during the period. CRH comprises approximately 9.4% of L1 Capital Pty Ltd's portfolio, making the stock its 6th largest position. L1 Capital Pty Ltd owned about 0.17% of CRH worth $100,500,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRH. Mercer Global Advisors Inc. ADV grew its position in CRH by 1.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,226 shares of the construction company's stock worth $1,964,000 after acquiring an additional 349 shares in the last quarter. AXA S.A. grew its position in CRH by 23.1% in the fourth quarter. AXA S.A. now owns 133,108 shares of the construction company's stock worth $12,315,000 after acquiring an additional 24,944 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in CRH in the fourth quarter worth $13,604,000. Benjamin Edwards Inc. grew its position in CRH by 15.4% in the fourth quarter. Benjamin Edwards Inc. now owns 19,119 shares of the construction company's stock worth $1,769,000 after acquiring an additional 2,558 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new position in CRH in the fourth quarter worth $35,037,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of CRH in a research report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 target price for the company. Sanford C. Bernstein assumed coverage on shares of CRH in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price target for the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $112.00 price target (up from $108.00) on shares of CRH in a research note on Friday, August 8th. Morgan Stanley reissued an "overweight" rating on shares of CRH in a research note on Tuesday. Finally, DA Davidson reissued a "neutral" rating and issued a $105.00 price target (down from $120.00) on shares of CRH in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $114.64.

CRH Stock Up 0.6%

Shares of NYSE:CRH traded up $0.63 during midday trading on Friday, hitting $112.24. 3,599,695 shares of the stock traded hands, compared to its average volume of 4,118,219. The stock has a market capitalization of $75.50 billion, a PE ratio of 23.48, a P/E/G ratio of 1.45 and a beta of 1.31. The business's 50 day moving average is $102.68 and its two-hundred day moving average is $96.33. Crh Plc has a one year low of $76.75 and a one year high of $114.40.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 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 the consensus estimate of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The business's revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $1.88 earnings per share. As a group, sell-side analysts forecast 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 paid 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 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.