Park West Asset Management LLC Sells 91,539 Shares of Crh Plc $CRH

Key Points

• Park West Asset Management LLC reduced its stake in CRH Plc by 16.1%, selling 91,539 shares and now holding 476,461 shares, which represent 3.4% of its total portfolio.
• CRH reported earnings of $1.94 per share for the latest quarter, missing analyst expectations of $2.06 and achieving a revenue of $10.21 billion, compared to a projected $10.27 billion.
• The company announced a quarterly dividend of $0.37, representing an annualized dividend of $1.48 and a yield of 1.3%, with the dividend payout ratio at 23.22%.

Park West Asset Management LLC trimmed its position in Crh Plc (NYSE:CRH - Free Report) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 476,461 shares of the construction company's stock after selling 91,539 shares during the quarter. CRH accounts for 3.4% of Park West Asset Management LLC's holdings, making the stock its 10th biggest holding. Park West Asset Management LLC owned 0.07% of CRH worth $41,914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of CRH during the 4th quarter valued at $28,000. Heck Capital Advisors LLC bought a new stake in shares of CRH during the 4th quarter valued at $32,000. Park Square Financial Group LLC bought a new stake in shares of CRH during the 4th quarter valued at $32,000. Colonial Trust Co SC bought a new stake in shares of CRH during the 4th quarter valued at $37,000. Finally, GW&K Investment Management LLC lifted its position in shares of CRH by 86.7% during the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock valued at $39,000 after acquiring an additional 208 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Stock Up 0.6%

Shares of CRH opened at $112.24 on Friday. Crh Plc has a 12-month low of $76.75 and a 12-month high of $114.40. The business has a 50-day simple moving average of $102.68 and a two-hundred day simple moving average of $96.33. The stock has a market cap of $75.50 billion, a PE ratio of 23.48, a PEG ratio of 1.45 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%.The firm had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. During the same period in the previous year, the company earned $1.88 EPS. CRH's revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 22nd. CRH's dividend payout ratio is presently 23.22%.

Wall Street Analyst Weigh In

CRH has been the subject of a number of recent analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $112.00 target price (up from $108.00) on shares of CRH in a research report on Friday, August 8th. Sanford C. Bernstein started coverage on CRH in a research report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective for the company. Vertical Research upgraded CRH to a "strong-buy" rating in a research report on Friday, August 1st. DA Davidson restated a "neutral" rating and set a $105.00 price objective (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Finally, Morgan Stanley restated an "overweight" rating on shares of CRH in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, CRH presently has a consensus rating of "Buy" and an average target price of $114.64.

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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