Persistent Asset Partners Ltd Makes New $845,000 Investment in Crh Plc (NYSE:CRH)

Persistent Asset Partners Ltd purchased a new stake in shares of Crh Plc (NYSE:CRH) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,602 shares of the construction company’s stock, valued at approximately $845,000.

A number of other large investors have also added to or reduced their stakes in CRH. Raymond James Financial Inc. bought a new position in shares of CRH during the fourth quarter valued at about $41,407,000. Covestor Ltd grew its stake 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 last quarter. Rockefeller Capital Management L.P. grew its stake in shares of CRH by 63.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 27,038 shares of the construction company’s stock valued at $2,501,000 after buying an additional 10,460 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of CRH in the fourth quarter worth about $213,000. Finally, Mariner LLC grew its stake in shares of CRH by 8.7% in the fourth quarter. Mariner LLC now owns 73,254 shares of the construction company’s stock worth $6,777,000 after purchasing an additional 5,851 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRH. Royal Bank Of Canada reissued an “outperform” rating and issued a $112.00 target price (up from $108.00) on shares of CRH in a research note on Friday. The Goldman Sachs Group reissued a “neutral” rating on shares of CRH in a research note on Tuesday, May 6th. Sanford C. Bernstein began coverage on CRH in a research note on Tuesday, May 13th. They issued an “outperform” rating and a $115.00 target price on the stock. Morgan Stanley reissued an “overweight” rating on shares of CRH in a research note on Friday. Finally, DA Davidson reissued a “neutral” rating and issued a $105.00 target price (down from $120.00) on shares of CRH in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $113.18.

CRH Stock Performance

CRH stock opened at $107.49 on Tuesday. The firm has a 50 day moving average price of $94.50 and a 200-day moving average price of $94.95. Crh Plc has a 52-week low of $76.75 and a 52-week high of $110.97. The firm has a market capitalization of $72.63 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.40 and a beta of 1.26.

CRH (NYSE:CRH) last released its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a net margin of 9.09% and a return on equity of 15.68%. The business had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.27 billion. During the same quarter in the previous year, the business posted $1.88 earnings per share. CRH’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Crh Plc will post 5.47 earnings per share for the current fiscal 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 issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 22nd. CRH’s payout ratio is presently 23.22%.

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.