Global Endowment Management LP Sells 3,847 Shares of Crh Plc (NYSE:CRH)

Key Points

• Global Endowment Management LP decreased its stake in Crh Plc by 42.9%, selling 3,847 shares during the first quarter, leaving them with 5,126 shares worth $451,000.
• Institutional investors hold 62.50% of CRH's stock, with several firms, including Rockefeller Capital Management and NewEdge Advisors LLC, significantly increasing their positions recently.
• CRH reported earnings of $1.94 per share, missing estimates, while announcing a quarterly dividend of $0.37 per share, translating to an annual yield of 1.3%.

Global Endowment Management LP reduced its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 42.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,126 shares of the construction company's stock after selling 3,847 shares during the quarter. Global Endowment Management LP's holdings in CRH were worth $451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its holdings in shares of CRH by 63.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 27,038 shares of the construction company's stock valued at $2,501,000 after acquiring an additional 10,460 shares in the last quarter. Mariner LLC raised its holdings in shares of CRH by 8.7% during the fourth quarter. Mariner LLC now owns 73,254 shares of the construction company's stock valued at $6,777,000 after acquiring an additional 5,851 shares in the last quarter. Gabelli Funds LLC boosted its position in CRH by 55.0% during the 4th quarter. Gabelli Funds LLC now owns 9,300 shares of the construction company's stock valued at $860,000 after acquiring an additional 3,300 shares in the last quarter. PEAK6 LLC bought a new stake in CRH during the 4th quarter valued at approximately $978,000. Finally, NewEdge Advisors LLC boosted its position in CRH by 349.0% during the 4th quarter. NewEdge Advisors LLC now owns 3,354 shares of the construction company's stock valued at $310,000 after acquiring an additional 2,607 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Vertical Research raised CRH to a "strong-buy" rating in a research report on Friday, August 1st. Sanford C. Bernstein assumed coverage on CRH in a research report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $112.00 price objective (up from $108.00) on shares of CRH in a research report on Friday, August 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research report on Friday, August 8th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $113.18.

CRH Stock Performance

CRH stock opened at $110.79 on Friday. The firm has a 50 day moving average price of $96.13 and a 200-day moving average price of $95.38. Crh Plc has a 52-week low of $76.75 and a 52-week high of $113.95. The firm has a market capitalization of $74.52 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.43 and a beta of 1.26.

CRH (NYSE:CRH - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) 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 quarter in the previous year, the business posted $1.88 earnings per share. CRH's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, August 22nd. 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.

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