CRH plc (NYSE:CRH) Position Increased by Seven Eight Capital LP

Seven Eight Capital LP increased its position in CRH plc (NYSE:CRH) by 502.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 48,645 shares of the construction company’s stock after purchasing an additional 40,568 shares during the period. Seven Eight Capital LP’s holdings in CRH were worth $3,647,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Greenhaven Associates Inc. raised its holdings in shares of CRH by 0.8% during the 2nd quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock valued at $833,782,000 after purchasing an additional 91,267 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in 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 worth $646,188,000 after purchasing an additional 431,172 shares during the period. Putnam Investments LLC boosted its stake in CRH by 3,384.4% in 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 grew its holdings in shares of 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 worth $438,455,000 after purchasing an additional 5,068,682 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings 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 buying an additional 2,365,589 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRH. Citigroup dropped their target price 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. StockNews.com lowered shares of CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Truist Financial increased their target price on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Stephens began coverage on CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective for the company. Finally, Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, CRH currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.70.

CRH Trading Up 0.1 %

NYSE CRH opened at $89.28 on Wednesday. The company’s 50 day simple moving average is $83.87 and its two-hundred day simple moving average is $81.59. 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 (EPS) for the quarter, hitting 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. As a group, research analysts predict that CRH plc will post 5.45 EPS for the current year.

CRH Cuts Dividend

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

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.