William Blair Investment Management LLC Sells 2,718,051 Shares of CRH plc (NYSE:CRH)

William Blair Investment Management LLC decreased its holdings in shares of CRH plc (NYSE:CRH) by 98.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,678 shares of the construction company’s stock after selling 2,718,051 shares during the quarter. William Blair Investment Management LLC’s holdings in CRH were worth $3,950,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenhaven Associates Inc. grew its position in CRH by 0.8% in the 2nd quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock valued at $833,782,000 after acquiring an additional 91,267 shares during the last quarter. Bank of New York Mellon Corp increased its stake in CRH by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock worth $646,188,000 after buying an additional 431,172 shares during the period. Putnam Investments LLC lifted its holdings in CRH by 3,384.4% during the 4th quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock valued at $469,022,000 after buying an additional 6,587,066 shares in the last quarter. Lazard Asset Management LLC boosted its position in CRH by 35,497.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock valued at $438,455,000 after buying an additional 5,068,682 shares during the period. Finally, American Century Companies Inc. increased its position in shares of CRH by 103.9% during the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after acquiring an additional 2,365,589 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Price Performance

CRH stock opened at $89.16 on Tuesday. CRH plc has a 1-year low of $51.59 and a 1-year high of $91.02. The business has a fifty day moving average price of $83.60 and a 200-day moving average price of $81.55.

CRH (NYSE:CRH) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.85. The business had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. Research analysts anticipate that CRH plc will post 5.45 EPS for the current fiscal year.

CRH Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, September 25th. Shareholders 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 yield of 1.7%.

Analysts Set New Price Targets

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

About CRH

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.