Independence Financial Advisors LLC Takes Position in Crh Plc (NYSE:CRH)

Key Points

• Independence Financial Advisors LLC invested $467,000 in Crh Plc by acquiring 5,307 shares during the first quarter.
• Multiple large investors, including FMR LLC and D. E. Shaw & Co., significantly increased their holdings in CRH, collectively owning 62.5% of the stock.
• CRH recently reported a quarterly earnings miss and announced a $0.37 dividend, with a dividend yield of 1.52%.

Independence Financial Advisors LLC bought a new stake in shares of Crh Plc (NYSE:CRH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,307 shares of the construction company's stock, valued at approximately $467,000.

A number of other hedge funds have also recently modified their holdings of CRH. FMR LLC increased its position in shares of CRH by 13.0% during the 4th quarter. FMR LLC now owns 40,843,362 shares of the construction company's stock valued at $3,781,004,000 after purchasing an additional 4,687,345 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in CRH by 43.2% in 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 purchasing an additional 3,108,416 shares during the period. Bank of New York Mellon Corp boosted its stake in CRH by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 8,830,489 shares of the construction company's stock worth $776,818,000 after purchasing an additional 221,038 shares during the period. Millennium Management LLC boosted its stake in CRH by 43.5% in the 4th quarter. Millennium Management LLC now owns 4,813,580 shares of the construction company's stock worth $445,352,000 after purchasing an additional 1,458,303 shares during the period. Finally, Deutsche Bank AG boosted its stake in CRH by 72.2% in the 4th quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company's stock worth $436,472,000 after purchasing an additional 1,978,225 shares during the period. Institutional investors own 62.50% of the company's stock.

CRH Stock Down 0.1%

Shares of CRH stock traded down $0.14 on Friday, reaching $95.31. The company's stock had a trading volume of 2,876,251 shares, compared to its average volume of 5,639,638. The company has a market capitalization of $64.40 billion, a P/E ratio of 20.19, a PEG ratio of 1.53 and a beta of 1.26. Crh Plc has a 52-week low of $74.03 and a 52-week high of $110.97. The stock has a 50-day moving average price of $93.21 and a 200-day moving average price of $94.80.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The construction company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.77 billion. CRH had a return on equity of 15.88% and a net margin of 9.17%. Sell-side analysts forecast that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Friday, May 23rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 23rd. CRH's dividend payout ratio is 23.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CRH shares. Sanford C. Bernstein started coverage on CRH in a research report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 target price for the company. Loop Capital started coverage on CRH in a research report on Wednesday, April 9th. They set a "buy" rating and a $114.00 target price for the company. Royal Bank Of Canada lowered their target price on CRH from $127.00 to $108.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. DA Davidson reiterated a "neutral" rating and set a $105.00 target price (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $112.82.

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.