Exane Asset Management Buys 88,023 Shares of CRH plc (NYSE:CRH)

Exane Asset Management increased its stake in shares of CRH plc (NYSE:CRH) by 61.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,006 shares of the construction company’s stock after acquiring an additional 88,023 shares during the quarter. CRH makes up about 12.1% of Exane Asset Management’s portfolio, making the stock its 4th largest position. Exane Asset Management’s holdings in CRH were worth $17,298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nordea Investment Management AB purchased a new stake in CRH in the 1st quarter valued at $71,172,000. Janney Montgomery Scott LLC lifted its position in shares of CRH by 211.8% during the first quarter. Janney Montgomery Scott LLC now owns 38,683 shares of the construction company’s stock valued at $3,337,000 after purchasing an additional 26,276 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of CRH by 2,426.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,826,501 shares of the construction company’s stock valued at $195,481,000 after purchasing an additional 2,714,634 shares in the last quarter. Norden Group LLC purchased a new position in CRH during the first quarter worth about $4,041,000. Finally, Cetera Advisors LLC bought a new stake in CRH in the 1st quarter worth about $1,277,000. 62.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on CRH. DA Davidson lifted their target price on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup reduced their price objective on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $87.00 to $88.00 in a research note on Tuesday, July 9th. Truist Financial raised their price objective on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.70.

CRH Stock Down 1.2 %

Shares of CRH opened at $84.27 on Tuesday. The business’s 50-day moving average price is $82.25 and its 200-day moving average price is $81.31. The stock has a market cap of $57.53 billion, a PE ratio of 14.12, a P/E/G ratio of 1.38 and a beta of 1.30. CRH plc has a twelve month low of $51.59 and a twelve month high of $91.02.

CRH (NYSE:CRH) last released its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting analysts’ consensus estimates of $1.85. The firm had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Analysts expect that CRH plc will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.35 per share. The ex-dividend date is Friday, August 23rd. This represents a dividend yield of 1.7%. CRH’s dividend payout ratio (DPR) is presently 29.82%.

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.