Galvin Gaustad & Stein LLC Makes New Investment in Crh Plc $CRH

Key Points

• Galvin Gaustad & Stein LLC has acquired 98,361 shares of CRH Plc valued at approximately $9,030,000 as part of their new investment strategy.
• CRH recently reported earnings of $1.94 per share, missing analysts' expectations of $2.06, with revenue totaling $10.21 billion for the quarter.
• Several equity analysts have set ambitious target prices for CRH, with Morgan Stanley establishing a target of $134 and Bank of America setting a $128 target price.

Galvin Gaustad & Stein LLC acquired a new position in shares of Crh Plc (NYSE:CRH - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 98,361 shares of the construction company's stock, valued at approximately $9,030,000.

Other hedge funds have also recently bought and sold shares of the company. Park Place Capital Corp lifted its position in CRH by 59.9% during the second quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock worth $29,000 after acquiring an additional 115 shares during the last quarter. GW&K Investment Management LLC lifted its position in CRH by 86.7% during the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after acquiring an additional 208 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in CRH during the first quarter worth approximately $47,000. Deseret Mutual Benefit Administrators lifted its position in CRH by 44.6% during the first quarter. Deseret Mutual Benefit Administrators now owns 730 shares of the construction company's stock worth $64,000 after acquiring an additional 225 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in CRH during the first quarter worth approximately $74,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Price Performance

Shares of NYSE:CRH opened at $117.54 on Friday. The company's 50 day simple moving average is $112.05 and its 200 day simple moving average is $98.98. The stock has a market capitalization of $79.06 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 1.67 and a beta of 1.32. Crh Plc has a 1 year low of $76.75 and a 1 year high of $121.88.

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

CRH Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd were given a $0.37 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. CRH's dividend payout ratio (DPR) is currently 23.22%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley set a $134.00 price objective on shares of CRH in a research report on Thursday. Bank of America initiated coverage on shares of CRH in a report on Friday, September 26th. They set a "buy" rating and a $128.00 target price on the stock. Wells Fargo & Company initiated coverage on shares of CRH in a report on Tuesday. They set an "overweight" rating and a $135.00 target price on the stock. Sanford C. Bernstein raised their target price on shares of CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Finally, Royal Bank Of Canada raised their target price on shares of CRH from $112.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $127.21.

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.

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