Interval Partners LP Purchases 158,292 Shares of Crh Plc $CRH

Key Points

• Interval Partners LP significantly increased its stake in CRH Plc by 168.4% during the 1st quarter, now owning 252,273 shares valued at approximately $22.2 million.
• CRH reported a quarterly earnings miss, with earnings per share of $1.94, falling short of the $2.06 consensus estimate, despite a revenue increase of 5.7% year-over-year.
• The company announced a quarterly dividend of $0.37 per share to be paid on September 24th, which corresponds to an annualized yield of 1.3%.

Interval Partners LP grew its position in shares of Crh Plc (NYSE:CRH - Free Report) by 168.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,273 shares of the construction company's stock after purchasing an additional 158,292 shares during the period. Interval Partners LP's holdings in CRH were worth $22,192,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRH. Vanguard Group Inc. grew its position in shares of CRH by 62.8% during 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 purchasing an additional 24,591,538 shares in the last quarter. Nuveen LLC purchased a new position in CRH in the first quarter worth $597,888,000. Massachusetts Financial Services Co. MA grew its position in CRH by 43.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock worth $906,424,000 after acquiring an additional 3,108,416 shares in the last quarter. AGF Management Ltd. grew its position in CRH by 195.0% in the first quarter. AGF Management Ltd. now owns 3,052,011 shares of the construction company's stock worth $268,485,000 after acquiring an additional 2,017,484 shares in the last quarter. Finally, Deutsche Bank AG grew its position in CRH by 72.2% in the fourth quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company's stock worth $436,472,000 after acquiring an additional 1,978,225 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $112.00 target price (up from $108.00) on shares of CRH in a research report on Friday, August 8th. JPMorgan Chase & Co. assumed coverage on shares of CRH in a research report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 target price for the company. DA Davidson reiterated a "neutral" rating and issued a $105.00 target price (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Finally, Sanford C. Bernstein assumed coverage on shares of CRH in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $114.64.

CRH Price Performance

NYSE CRH traded up $0.63 during trading on Friday, hitting $112.24. 3,599,695 shares of the company's stock traded hands, compared to its average volume of 3,914,010. The stock has a fifty day moving average of $102.68 and a two-hundred day moving average of $96.22. Crh Plc has a 12-month low of $76.75 and a 12-month high of $114.40. The firm has a market cap of $75.50 billion, a P/E ratio of 23.48, a PEG ratio of 1.46 and a beta of 1.31.

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). 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 company earned $1.88 earnings per share. The business's quarterly revenue was up 5.7% on a year-over-year basis. As a group, analysts expect that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd will be paid 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 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.