Pinnacle Associates Ltd. Grows Stake in Crh Plc (NYSE:CRH)

Key Points

• Pinnacle Associates Ltd. increased its stake in CRH Plc by 128.2% during Q1, holding 10,389 shares valued at $914,000 after acquiring 5,836 shares.
• CRH's stock has received a consensus rating of "Moderate Buy" from analysts, with a target price averaging $112.82.
• The company declared a quarterly dividend of $0.37 per share, with an annualized yield of 1.48% and a payout ratio of 23.52%.

Pinnacle Associates Ltd. raised its holdings in Crh Plc (NYSE:CRH - Free Report) by 128.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,389 shares of the construction company's stock after buying an additional 5,836 shares during the quarter. Pinnacle Associates Ltd.'s holdings in CRH were worth $914,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CRH. Diversify Advisory Services LLC increased its position in CRH by 5.0% during the 1st quarter. Diversify Advisory Services LLC now owns 2,572 shares of the construction company's stock valued at $240,000 after purchasing an additional 123 shares during the period. Covestor Ltd increased its position in shares of CRH by 20.4% during the fourth quarter. Covestor Ltd now owns 755 shares of the construction company's stock valued at $70,000 after buying an additional 128 shares during the period. Yousif Capital Management LLC raised its stake in CRH by 1.7% in the first quarter. Yousif Capital Management LLC now owns 8,196 shares of the construction company's stock worth $721,000 after buying an additional 139 shares in the last quarter. Fifth Third Bancorp lifted its holdings in CRH by 0.9% in the first quarter. Fifth Third Bancorp now owns 15,257 shares of the construction company's stock worth $1,342,000 after buying an additional 140 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its position in CRH by 1.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 10,387 shares of the construction company's stock valued at $914,000 after acquiring an additional 141 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRH. DA Davidson restated a "neutral" rating and issued a $105.00 target price (down previously from $120.00) on shares of CRH in a research note on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating on shares of CRH in a research report on Wednesday, May 7th. Loop Capital initiated coverage on shares of CRH in a research report on Wednesday, April 9th. They issued a "buy" rating and a $114.00 target price on the stock. The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada dropped their price objective on shares of CRH from $127.00 to $108.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.82.

CRH Stock Performance

Shares of CRH stock opened at $100.07 on Monday. The company has a 50-day simple moving average of $93.16 and a two-hundred day simple moving average of $94.69. The stock has a market capitalization of $67.61 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.26. Crh Plc has a 52-week low of $74.03 and a 52-week high of $110.97.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly 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 firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.77 billion. CRH had a net margin of 9.17% and a return on equity of 15.88%. As a group, equities research analysts forecast that Crh Plc will post 5.47 EPS 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 issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, May 23rd. CRH's payout ratio is currently 23.52%.

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.

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