Palestra Capital Management LLC Buys 196,066 Shares of CRH plc (NYSE:CRH)

Palestra Capital Management LLC increased its position in shares of CRH plc (NYSE:CRH - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,460,956 shares of the construction company's stock after buying an additional 196,066 shares during the quarter. CRH accounts for about 3.7% of Palestra Capital Management LLC's portfolio, making the stock its 13th biggest holding. Palestra Capital Management LLC owned about 0.22% of CRH worth $135,168,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of CRH by 7.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company's stock valued at $144,605,000 after acquiring an additional 114,072 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of CRH by 22.1% in the fourth quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company's stock valued at $3,012,000 after buying an additional 5,889 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 worth $226,732,000 after buying an additional 232,977 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of CRH by 31.8% during the 4th quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company's stock valued at $2,151,000 after acquiring an additional 5,610 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of CRH by 19.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company's stock worth $6,733,000 after purchasing an additional 12,076 shares during the period. Institutional investors own 62.50% of the company's stock.

CRH Price Performance

Shares of CRH traded down $4.17 on Tuesday, reaching $94.08. The company's stock had a trading volume of 4,877,340 shares, compared to its average volume of 5,752,306. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97. The stock has a market capitalization of $63.63 billion, a P/E ratio of 18.77, a PEG ratio of 1.15 and a beta of 1.33. The stock's 50 day simple moving average is $91.94 and its two-hundred day simple moving average is $96.14.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The construction company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates 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 9.86% and a return on equity of 16.35%. Analysts expect that CRH plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Friday, May 23rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. CRH's dividend payout ratio is currently 22.66%.

Analyst Upgrades and Downgrades

CRH has been the subject of several analyst reports. Loop Capital assumed coverage on shares of CRH in a research report on Wednesday, April 9th. They issued a "buy" rating and a $114.00 target price for the company. StockNews.com upgraded CRH from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. Citigroup reduced their price target on shares of CRH from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their target price on shares of CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada dropped their target price on CRH from $127.00 to $108.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CRH currently has an average rating of "Buy" and a consensus target price of $112.36.

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.