Crh Plc $CRH Shares Purchased by Makena Capital Management LLC

Key Points

• Makena Capital Management LLC increased its holdings in CRH Plc by 40.6%, owning 156,299 shares worth $13.75 million as of the end of the first quarter.
• CRH recently declared a quarterly dividend of $0.37 per share, reflecting an annualized dividend of $1.48 and a dividend yield of 1.3%.
• Wall Street analysts are optimistic about CRH, with a consensus "Buy" rating and a target price averaging $113.18, indicating strong potential for growth.

Makena Capital Management LLC boosted its position in Crh Plc (NYSE:CRH - Free Report) by 40.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,299 shares of the construction company's stock after buying an additional 45,163 shares during the quarter. CRH accounts for approximately 1.4% of Makena Capital Management LLC's holdings, making the stock its 19th biggest holding. Makena Capital Management LLC's holdings in CRH were worth $13,750,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Orion Capital Management LLC purchased a new position in CRH in the fourth quarter valued at about $28,000. Park Square Financial Group LLC acquired a new stake in CRH in the fourth quarter valued at $32,000. Heck Capital Advisors LLC bought a new position in CRH during the 4th quarter valued at $32,000. Colonial Trust Co SC bought a new position in CRH during the 4th quarter valued at $37,000. Finally, GW&K Investment Management LLC grew its holdings in CRH by 86.7% during the 1st 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 currently owned by institutional investors and hedge funds.

CRH Price Performance

Shares of NYSE CRH traded down $1.8630 during mid-day trading on Wednesday, hitting $110.5770. The company had a trading volume of 4,046,210 shares, compared to its average volume of 5,602,853. Crh Plc has a 12 month low of $76.75 and a 12 month high of $113.95. The stock has a market cap of $74.38 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.43 and a beta of 1.26. The firm's 50 day simple moving average is $96.89 and its two-hundred day simple moving average is $95.53.

CRH (NYSE:CRH - Get Free Report) last issued 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). The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.CRH's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 earnings per share. Equities analysts forecast that Crh Plc will post 5.47 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 24th. Investors of record on Friday, August 22nd will be given a $0.37 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH's dividend payout ratio (DPR) is currently 23.22%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRH. Morgan Stanley restated an "overweight" rating on shares of CRH in a research note on Friday, August 8th. DA Davidson reissued a "neutral" rating and issued a $105.00 price objective (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Sanford C. Bernstein began coverage on CRH in a research note on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $112.00 target price (up previously from $108.00) on shares of CRH in a research report on Friday, August 8th. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, CRH has an average rating of "Buy" and a consensus price target of $113.18.

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.