Bank Pictet & Cie Europe AG Has $254,000 Stock Holdings in CRH plc (NYSE:CRH)

Bank Pictet & Cie Europe AG cut its holdings in CRH plc (NYSE:CRH - Free Report) by 93.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,383 shares of the construction company's stock after selling 47,738 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in CRH were worth $254,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. First Financial Corp IN bought a new stake in shares of CRH during the first quarter worth about $26,000. Orion Capital Management LLC increased its stake in CRH by 100.0% in the 4th quarter. Orion Capital Management LLC now owns 400 shares of the construction company's stock valued at $28,000 after buying an additional 200 shares during the last quarter. NBC Securities Inc. lifted its position in shares of CRH by 71.5% during the 1st quarter. NBC Securities Inc. now owns 415 shares of the construction company's stock worth $35,000 after buying an additional 173 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of CRH in the 4th quarter worth approximately $37,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of CRH during the 4th quarter valued at $47,000. Institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRH. Stephens started coverage on CRH in a research note on Tuesday, June 18th. They issued an "overweight" rating and a $95.00 price objective on the stock. Citigroup reduced their price target on CRH from $109.00 to $99.00 and set a "buy" rating for the company in a research report on Thursday, July 11th. Royal Bank of Canada assumed coverage on CRH in a research note on Tuesday, May 14th. They issued an "outperform" rating and a $110.00 target price for the company. StockNews.com cut CRH from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Morgan Stanley raised shares of CRH from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $87.00 to $88.00 in a report 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. According to MarketBeat.com, CRH currently has a consensus rating of "Moderate Buy" and an average target price of $95.70.

CRH Price Performance

CRH stock traded up $2.38 during mid-day trading on Friday, hitting $90.18. The company's stock had a trading volume of 3,827,730 shares, compared to its average volume of 5,248,812. The stock has a market cap of $61.92 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30. CRH plc has a 12 month low of $51.59 and a 12 month high of $90.31. The business has a 50 day moving average price of $79.56 and a 200-day moving average price of $80.40.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) 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, equities research analysts expect that CRH plc will post 5.39 earnings per share for the current fiscal year.

CRH Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be issued a $0.35 dividend. This represents a yield of 1.7%. The ex-dividend date is Friday, August 23rd. CRH's dividend payout ratio (DPR) is currently 29.97%.

CRH Company 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.