Headlands Technologies LLC Decreases Stock Holdings in Crh Plc (NYSE:CRH)

Key Points

• Headlands Technologies LLC reduced its stake in CRH Plc by 40.4%, now holding 10,188 shares worth approximately $896,000.
• Vanguard Group Inc. significantly increased its position in CRH by 62.8%, owning 63.76 million shares valued at about $5.61 billion.
• CRH reported a quarterly earnings per share of $1.94, missing estimates, with a revenue of $10.21 billion that was slightly below expectations.

Headlands Technologies LLC trimmed its holdings in Crh Plc (NYSE:CRH - Free Report) by 40.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,188 shares of the construction company's stock after selling 6,906 shares during the quarter. Headlands Technologies LLC's holdings in CRH were worth $896,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CRH. Vanguard Group Inc. lifted its stake in CRH by 62.8% in the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock valued at $5,608,567,000 after buying an additional 24,591,538 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of CRH by 43.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock worth $906,424,000 after buying an additional 3,108,416 shares during the last quarter. Deutsche Bank AG increased its holdings in CRH by 72.2% in the 4th quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company's stock valued at $436,472,000 after purchasing an additional 1,978,225 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in CRH by 931.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,977,992 shares of the construction company's stock valued at $183,004,000 after buying an additional 1,786,189 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of CRH by 43.5% in the 4th quarter. Millennium Management LLC now owns 4,813,580 shares of the construction company's stock valued at $445,352,000 after acquiring an additional 1,458,303 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Stock Up 2.5%

Shares of CRH stock traded up $2.64 on Friday, reaching $109.56. The company had a trading volume of 7,683,843 shares, compared to its average volume of 4,160,455. The business's 50-day moving average is $94.17 and its 200 day moving average is $94.95. The stock has a market capitalization of $74.02 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.26. Crh Plc has a one year low of $76.75 and a one year high of $110.97.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly 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). The business had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 EPS. On average, sell-side analysts forecast that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 22nd. CRH's dividend payout ratio is currently 23.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $105.00 target price (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a report on Friday, August 1st. Royal Bank Of Canada reissued an "outperform" rating and issued a $112.00 target price (up previously from $108.00) on shares of CRH in a research note on Friday. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a report on Friday. Finally, Sanford C. Bernstein started coverage on shares of CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price target for the company. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, CRH has a consensus rating of "Buy" and an average target price of $113.18.

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.