1. CRH plc (NYSE:CRH)
Number of Hedge Fund Holders: 65
CRH plc (NYSE:CRH) offers building materials solutions and operates through different segments, including Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The stock tops our list of best construction materials stocks to invest in right now.
On April 6, CRH plc (NYSE:CRH) reported that the company acquired BoDean Company Inc. and Northgate Ready Mix, LLC. These acquisitions added 2 aggregates quarries, 2 ready-mixed concrete plants, 1 asphalt plant, and 1 recycle plant to the company’s portfolio.
According to our database, CRH plc (NYSE:CRH) was part of 65 hedge funds’ portfolios in Q4 of 2023 with a total stake value of $7.23 billion.
L1 Capital stated the following regarding CRH plc (NYSE:CRH) in its first quarter 2024 investor letter:
“CRH plc (NYSE:CRH) (Long +25%) shares continued to rally strongly after the company delivered strong Q4 FY23 numbers and provided FY24 guidance ~5% ahead of consensus expectations. The company is a significant beneficiary of the exceptional growth in U.S. infrastructure spending which will underpin many years of robust demand. The Infrastructure Investment and Jobs Act (‘IIJA’), Inflation Reduction Act (‘IRA’) and the Chips and Science Act will together add roughly US$2 trillion in investment to ageing U.S. infrastructure. These market tailwinds, together with CRH’s ability to drive value-accretive M&A, position the company to deliver consistent double-digit earnings growth over the medium term.”
Follow C R H Plc (NYSE:CRH)
Follow C R H Plc (NYSE:CRH)
Should you invest $1,000 in CRH plc (NYSE:CRH) right now?
Before you buy stock in CRH, consider this:
The Insider Monkey Quarterly Newsletter just identified what we believe are the 14 best stocks for investors to buy now… and CRH wasn’t one of them. The 14 stocks that made the cut could produce monster returns in the next few months.
Quarterly Newsletter is your easy-to-follow blueprint for building a winning portfolio. It includes stock picks from billionaires, regular updates from hedge fund investor letters, and 14 fresh stock picks each quarter. The Quarterly Newsletter service has more than doubled the return of S&P 500 since 2014.
Disclosure: None. You can also look at the 40 Best Places to Visit in India Before You Die and the 11 Hot Growth Stocks To Buy Right Now.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
