Crh Plc $CRH Shares Sold by Gates Capital Management Inc.

Key Points

• Gates Capital Management Inc. has reduced its holdings in CRH PLC by 2.4%, now owning approximately 1,705,365 shares valued at $150 million, making it the firm's sixth largest position.
• Several hedge funds increased their stakes in CRH during the first quarter, with Quarry LP boosting its holdings by 530.7%.
• CRH reported $1.94 earnings per share (EPS) for the last quarter, falling short of the $2.06 consensus estimate amid a 5.7% revenue growth year-over-year.

Gates Capital Management Inc. trimmed its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 2.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,705,365 shares of the construction company's stock after selling 41,630 shares during the period. CRH makes up approximately 2.9% of Gates Capital Management Inc.'s investment portfolio, making the stock its 6th largest holding. Gates Capital Management Inc. owned 0.25% of CRH worth $150,021,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in CRH by 62.8% during the first quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock worth $5,608,567,000 after acquiring an additional 24,591,538 shares during the period. Nuveen LLC acquired a new position in CRH during the first quarter worth about $597,888,000. Massachusetts Financial Services Co. MA grew its holdings in CRH by 43.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock worth $906,424,000 after acquiring an additional 3,108,416 shares during the period. AGF Management Ltd. grew its holdings in CRH by 195.0% during the first quarter. AGF Management Ltd. now owns 3,052,011 shares of the construction company's stock worth $268,485,000 after acquiring an additional 2,017,484 shares during the period. Finally, Deutsche Bank AG grew its holdings in CRH by 72.2% during the fourth quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company's stock worth $436,472,000 after acquiring an additional 1,978,225 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Trading Up 0.2%

NYSE:CRH traded up $0.20 on Friday, hitting $111.81. 1,907,116 shares of the company's stock traded hands, compared to its average volume of 5,465,763. Crh Plc has a 1 year low of $76.75 and a 1 year high of $114.40. The firm has a 50-day moving average price of $102.27 and a 200-day moving average price of $96.32. The company has a market cap of $75.21 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31.

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

CRH Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders 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 yield of 1.3%. The ex-dividend date of this dividend is Friday, August 22nd. CRH's payout ratio is 23.22%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CRH. DA Davidson reaffirmed a "neutral" rating and set a $105.00 target price (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a report on Tuesday. JPMorgan Chase & Co. began coverage on CRH in a report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 target price on the stock. Vertical Research raised CRH to a "strong-buy" rating in a report on Friday, August 1st. Finally, Sanford C. Bernstein initiated coverage on CRH in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target 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.