Narwhal Capital Management Reduces Stock Position in Crh Plc (NYSE:CRH)

Narwhal Capital Management cut its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 8.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,328 shares of the construction company's stock after selling 4,861 shares during the period. Narwhal Capital Management's holdings in CRH were worth $4,867,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in CRH by 10.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company's stock valued at $226,732,000 after acquiring an additional 232,977 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of CRH during the 4th quarter valued at about $237,000. Headlands Technologies LLC increased its position in shares of CRH by 142,350.0% during the 4th quarter. Headlands Technologies LLC now owns 17,094 shares of the construction company's stock valued at $1,582,000 after purchasing an additional 17,082 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of CRH during the 4th quarter valued at about $683,000. Finally, LGT Group Foundation lifted its stake in shares of CRH by 2.3% in the 4th quarter. LGT Group Foundation now owns 795,108 shares of the construction company's stock worth $73,563,000 after purchasing an additional 17,755 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRH has been the subject of several recent research reports. Berenberg Bank set a $120.00 target price on shares of CRH in a research report on Friday, February 28th. Wall Street Zen upgraded CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. The Goldman Sachs Group reissued a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price objective on CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Finally, Royal Bank Of Canada lowered their price objective on CRH from $127.00 to $108.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $114.18.

CRH Price Performance

Shares of CRH opened at $89.91 on Tuesday. The firm has a market cap of $60.75 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.34 and a beta of 1.28. Crh Plc has a 1 year low of $71.18 and a 1 year high of $110.97. The company has a 50 day simple moving average of $92.40 and a two-hundred day simple moving average of $94.80.

CRH (NYSE:CRH - Get Free Report) last posted its earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $6.76 billion for the quarter, compared to analysts' expectations of $6.77 billion. CRH had a net margin of 9.17% and a return on equity of 15.88%. On average, sell-side analysts anticipate that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.65%. The ex-dividend date is Friday, May 23rd. CRH's dividend payout ratio is presently 23.52%.

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.

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