147,965 Shares in Crh Plc $CRH Bought by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC purchased a new stake in CRH Plc by acquiring 147,965 shares valued at approximately $13 million during the first quarter, highlighting significant institutional interest in the company.
• The company announced a quarterly dividend of $0.37, with an annualized dividend yield of 1.3%, reflecting a payout ratio of 23.22%.
• CRH's stock has recently been upgraded by several analysts; it currently holds a "Buy" rating with an average target price of $114.64.

Gotham Asset Management LLC acquired a new position in shares of Crh Plc (NYSE:CRH - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 147,965 shares of the construction company's stock, valued at approximately $13,016,000.

Several other hedge funds have also modified their holdings of CRH. Orion Capital Management LLC purchased a new stake in shares of CRH during the 4th quarter worth about $28,000. Park Square Financial Group LLC acquired a new position in CRH during the fourth quarter valued at approximately $32,000. Heck Capital Advisors LLC acquired a new position in CRH during the fourth quarter valued at approximately $32,000. Colonial Trust Co SC purchased a new stake in CRH during the fourth quarter worth approximately $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 worth $39,000 after acquiring an additional 208 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Price Performance

CRH traded up $2.95 on Thursday, reaching $114.21. The company's stock had a trading volume of 2,718,596 shares, compared to its average volume of 5,423,220. Crh Plc has a 1 year low of $76.75 and a 1 year high of $114.40. The business's 50 day moving average is $103.77 and its 200 day moving average is $96.50. The stock has a market cap of $76.82 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.44 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 return on equity of 15.68% and a net margin of 9.09%.The company had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the previous year, the firm posted $1.88 EPS. CRH's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, research analysts forecast that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be given 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 currently 23.22%.

Analyst Upgrades and Downgrades

CRH has been the subject of several recent research reports. Morgan Stanley reiterated an "overweight" rating on shares of CRH in a report on Tuesday, September 2nd. Sanford C. Bernstein upped their target price on CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday. JPMorgan Chase & Co. started coverage on CRH in a report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 target price on the stock. DA Davidson reissued a "neutral" rating and set a $105.00 price target (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 price target (up previously from $108.00) on shares of CRH in a report on Friday, August 8th. 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. According to MarketBeat, CRH presently has an average rating of "Buy" and a consensus target price of $116.00.

About CRH

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.