Distillate Capital Partners LLC Raises Stake in CRH plc (NYSE:CRH)

Distillate Capital Partners LLC grew its holdings in CRH plc (NYSE:CRH) by 128,339.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 249,173 shares of the construction company’s stock after buying an additional 248,979 shares during the period. CRH accounts for approximately 1.0% of Distillate Capital Partners LLC’s portfolio, making the stock its 29th largest position. Distillate Capital Partners LLC’s holdings in CRH were worth $18,683,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CRH. Putnam Investments LLC raised its stake 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 acquiring an additional 6,587,066 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of CRH by 35,497.5% during the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock worth $438,455,000 after purchasing an additional 5,068,682 shares during the last quarter. TD Asset Management Inc raised its stake in shares of CRH by 2,199.7% during the first quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock worth $288,383,000 after purchasing an additional 3,197,092 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of CRH by 1,095.0% during the first quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock worth $282,512,000 after purchasing an additional 3,001,488 shares during the period. Finally, Artisan Partners Limited Partnership grew its position in CRH by 2,426.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,826,501 shares of the construction company’s stock valued at $195,481,000 after buying an additional 2,714,634 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Down 1.0 %

NYSE:CRH opened at $91.97 on Tuesday. The company has a market capitalization of $63.15 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30. CRH plc has a 52-week low of $51.59 and a 52-week high of $93.07. The stock has a fifty day simple moving average of $84.90 and a 200-day simple moving average of $81.85.

CRH (NYSE:CRH) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. The business had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $10.16 billion. As a group, equities analysts anticipate that CRH plc will post 5.45 earnings per share for the current year.

CRH Cuts Dividend

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

Wall Street Analysts Forecast Growth

CRH has been the subject of several recent analyst reports. Truist Financial raised their target price on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup lowered their price objective on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. DA Davidson raised their price target on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley raised CRH from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Finally, Stephens began coverage on CRH in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, CRH presently has an average 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.