Gallacher Capital Management LLC Grows Holdings in CRH plc (NYSE:CRH)

Gallacher Capital Management LLC boosted its holdings in shares of CRH plc (NYSE:CRH) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,997 shares of the construction company’s stock after purchasing an additional 188 shares during the period. Gallacher Capital Management LLC’s holdings in CRH were worth $450,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. acquired a new stake in shares of CRH during the second quarter worth about $168,000. Arizona State Retirement System acquired a new stake in CRH during the 2nd quarter worth approximately $14,935,000. Victory Capital Management Inc. purchased a new position in shares of CRH in the 2nd quarter valued at approximately $206,000. Kornitzer Capital Management Inc. KS grew its stake in shares of CRH by 0.7% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 235,261 shares of the construction company’s stock valued at $17,640,000 after purchasing an additional 1,661 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new position in shares of CRH in the second quarter valued at approximately $250,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial increased their price target on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada began coverage on shares of CRH in a report on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 target price on the stock. StockNews.com cut shares of CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Morgan Stanley raised CRH from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $87.00 to $88.00 in a report on Tuesday, July 9th. Finally, Stephens initiated coverage on CRH in a research note on Tuesday, June 18th. They set an “overweight” rating and a $95.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.70.

CRH Stock Up 1.0 %

NYSE CRH opened at $85.33 on Friday. The business has a 50 day moving average price of $82.02 and a 200 day moving average price of $81.24. CRH plc has a 1-year low of $51.59 and a 1-year high of $91.02.

CRH (NYSE:CRH) last announced its quarterly 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 analysts’ expectations of $10.16 billion. On average, analysts predict that CRH plc will post 5.44 EPS for the current year.

CRH Cuts Dividend

The firm also recently announced 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. This represents a yield of 1.7%. The ex-dividend date is Friday, August 23rd.

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.