CRH plc (NYSE:CRH) Stock Position Raised by Summit Global Investments

Summit Global Investments lifted its stake in shares of CRH plc (NYSE:CRH - Free Report) by 275.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,915 shares of the construction company's stock after purchasing an additional 8,005 shares during the period. Summit Global Investments' holdings in CRH were worth $818,000 at the end of the most recent quarter.

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Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CRH in the fourth quarter worth about $1,179,000. International Assets Investment Management LLC purchased a new position in CRH during the 4th quarter worth approximately $3,358,000. Cerity Partners LLC raised its stake in CRH by 72.3% during the 4th quarter. Cerity Partners LLC now owns 17,209 shares of the construction company's stock valued at $1,190,000 after purchasing an additional 7,222 shares during the period. SVB Wealth LLC lifted its holdings in shares of CRH by 30.3% in the fourth quarter. SVB Wealth LLC now owns 5,173 shares of the construction company's stock valued at $358,000 after purchasing an additional 1,203 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of CRH in the fourth quarter worth $467,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRH. Royal Bank of Canada started coverage on CRH in a research report on Tuesday, May 14th. They set an "outperform" rating and a $110.00 price target on the stock. Morgan Stanley raised shares of CRH from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. Stephens assumed coverage on shares of CRH in a research report on Tuesday, June 18th. They set an "overweight" rating and a $95.00 price objective on the stock. DA Davidson increased their target price on shares of CRH from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Finally, StockNews.com cut shares of CRH from a "buy" rating to a "hold" rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $95.70.

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Check Out Our Latest Stock Report on CRH

CRH Trading Up 0.4 %

NYSE CRH traded up $0.33 during trading on Tuesday, hitting $85.31. 2,254,325 shares of the company traded hands, compared to its average volume of 5,273,553. The company has a market capitalization of $58.58 billion, a P/E ratio of 14.36, a PEG ratio of 1.34 and a beta of 1.30. The business has a fifty day simple moving average of $78.96 and a 200 day simple moving average of $80.09. CRH plc has a 12 month low of $51.59 and a 12 month high of $88.00.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting analysts' consensus estimates of $1.85. The company had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. Equities research analysts predict that CRH plc will post 5.39 EPS for the current fiscal year.

CRH Cuts Dividend

The company also recently disclosed 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. This represents a dividend yield of 1.7%. The ex-dividend date is Friday, August 23rd. CRH's dividend payout ratio is currently 29.97%.

CRH Company Profile

(Free Report)

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.

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