1832 Asset Management L.P. Sells 702,912 Shares of CRH plc (NYSE:CRH)

1832 Asset Management L.P. decreased its holdings in shares of CRH plc (NYSE:CRH) by 58.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 489,544 shares of the construction company’s stock after selling 702,912 shares during the quarter. 1832 Asset Management L.P. owned 0.07% of CRH worth $36,706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Greenhaven Associates Inc. grew its stake in shares of CRH by 0.8% during the second quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock worth $833,782,000 after buying an additional 91,267 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of CRH by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock valued at $646,188,000 after purchasing an additional 431,172 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of CRH by 3,384.4% during the fourth quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock worth $469,022,000 after purchasing an additional 6,587,066 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of CRH by 35,497.5% in the first 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. grew its holdings in CRH by 103.9% during the 2nd 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 last quarter. Institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

Shares of NYSE:CRH opened at $92.89 on Monday. CRH plc has a 52-week low of $51.59 and a 52-week high of $93.07. The business’s 50 day simple moving average is $84.66 and its two-hundred day simple moving average is $81.78. The firm has a market cap of $63.79 billion, a P/E ratio of 15.51, a PEG ratio of 1.38 and a beta of 1.30.

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

CRH Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a yield of 1.7%. CRH’s dividend payout ratio (DPR) is currently 29.72%.

Analyst Ratings Changes

CRH has been the subject of several analyst reports. Citigroup dropped their price target on shares of CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Truist Financial upped their target price on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Stephens assumed coverage on shares of CRH in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price target on the stock. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $87.00 to $88.00 in a report on Tuesday, July 9th. Finally, StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.