Greenland Capital Management LP Acquires Shares of 11,011 Crh Plc $CRH

Key Points

• Greenland Capital Management acquired 11,011 CRH shares worth approximately $1.18 million during the second quarter. Institutional investors collectively own 62.5% of the company.
• CRH exceeded quarterly expectations, reporting $2.21 in EPS versus the $2.02 consensus and $10.78 billion in revenue, up 5.6% year over year. The company also declared a quarterly dividend of $0.39 per share, representing a 1.7% annualized yield.
• Analysts maintain a broadly positive outlook, with CRH holding a consensus “Buy” rating and an average price target of $140.57, compared with its $94.19 opening price.

Greenland Capital Management LP acquired a new position in shares of Crh Plc (NYSE:CRH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,011 shares of the construction company's stock, valued at approximately $1,178,000.

Several other institutional investors and hedge funds also recently modified their holdings of CRH. Saudi Central Bank raised its holdings in shares of CRH by 89.4% during the 2nd quarter. Saudi Central Bank now owns 46,858 shares of the construction company's stock valued at $5,014,000 after buying an additional 22,118 shares during the period. Angeles Wealth Management LLC boosted its holdings in CRH by 5.9% in the 2nd quarter. Angeles Wealth Management LLC now owns 2,312 shares of the construction company's stock worth $247,000 after acquiring an additional 129 shares during the period. AlphaGrep UK Ltd purchased a new position in CRH in the 2nd quarter worth approximately $510,000. Raiffeisen Bank International AG grew its position in CRH by 9.6% in the second quarter. Raiffeisen Bank International AG now owns 118,985 shares of the construction company's stock valued at $12,954,000 after acquiring an additional 10,446 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its position in CRH by 28.7% in the second quarter. Concurrent Investment Advisors LLC now owns 15,826 shares of the construction company's stock valued at $1,693,000 after acquiring an additional 3,530 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Down 0.1%

Shares of CRH stock opened at $94.19 on Monday. The firm has a market cap of $62.66 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.71 and a beta of 1.33. Crh Plc has a fifty-two week low of $90.21 and a fifty-two week high of $131.55. The business has a 50-day moving average price of $99.69 and a 200 day moving average price of $106.35.

CRH (NYSE:CRH - Get Free Report) last released its earnings results on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.19. The company had revenue of $10.78 billion for the quarter, compared to the consensus estimate of $10.68 billion. CRH had a return on equity of 15.76% and a net margin of 9.93%.CRH's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 EPS. As a group, equities research analysts anticipate that Crh Plc will post 5.9 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 16th. Investors of record on Friday, August 14th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, August 14th. This represents a $1.56 annualized dividend and a yield of 1.7%. CRH's dividend payout ratio (DPR) is 27.51%.

Analyst Ratings Changes

A number of research firms have recently commented on CRH. Stephens reduced their target price on shares of CRH from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Weiss Ratings raised shares of CRH from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, July 31st. Jefferies Financial Group boosted their price objective on shares of CRH from $149.00 to $165.60 and gave the stock a "buy" rating in a report on Friday, June 26th. Wells Fargo & Company decreased their price objective on shares of CRH from $135.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Finally, DA Davidson began coverage on CRH in a research note on Monday, August 24th. They set a "buy" rating and a $137.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company's stock. According to data from MarketBeat, CRH currently has a consensus rating of "Buy" and an average price target of $140.57.

CRH Company Profile

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH's core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.

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