Intech Investment Management LLC Makes New Investment in CRH plc (NYSE:CRH)

Intech Investment Management LLC bought a new position in CRH plc (NYSE:CRH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 115,131 shares of the construction company’s stock, valued at approximately $8,633,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Greenhaven Associates Inc. boosted its holdings in CRH by 0.8% in the second quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock worth $833,782,000 after acquiring an additional 91,267 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in CRH by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock worth $646,188,000 after acquiring an additional 431,172 shares in the last quarter. Putnam Investments LLC boosted its holdings in CRH by 3,384.4% in the fourth quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock worth $469,022,000 after acquiring an additional 6,587,066 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in 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 worth $438,455,000 after acquiring an additional 5,068,682 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in CRH by 103.9% in 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 in the last quarter. 62.50% of the stock is owned by institutional investors.

CRH Stock Performance

CRH stock opened at $92.85 on Friday. CRH plc has a fifty-two week low of $51.59 and a fifty-two week high of $93.07. The business’s 50-day moving average is $84.66 and its two-hundred day moving average is $81.79. The company has a market cap of $63.76 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.38 and a beta of 1.30.

CRH (NYSE:CRH) last posted its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.85. The firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. Equities analysts predict 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. Shareholders of record on Friday, August 23rd will be given a $0.35 dividend. This represents a yield of 1.7%. The ex-dividend date is Friday, August 23rd. CRH’s payout ratio is 29.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CRH shares. StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Stephens started coverage on CRH in a report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price target on the stock. Truist Financial upped 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. DA Davidson upped 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. Finally, Citigroup lowered their price target on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.70.

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.