Verdence Capital Advisors LLC Has $696,000 Stake in CRH plc (NYSE:CRH)

Verdence Capital Advisors LLC lifted its holdings in shares of CRH plc (NYSE:CRH - Free Report) by 121.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,285 shares of the construction company's stock after purchasing an additional 5,083 shares during the quarter. Verdence Capital Advisors LLC's holdings in CRH were worth $696,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CRH. Bank of New York Mellon Corp lifted its position in CRH by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company's stock valued at $646,188,000 after acquiring an additional 431,172 shares in the last quarter. Advisory Resource Group lifted its holdings in shares of CRH by 4.2% in the second quarter. Advisory Resource Group now owns 12,179 shares of the construction company's stock valued at $913,000 after purchasing an additional 496 shares in the last quarter. Hillman Co. acquired a new position in shares of CRH during the second quarter worth about $14,391,000. Fifth Third Wealth Advisors LLC grew its holdings in shares of CRH by 21.9% during the second quarter. Fifth Third Wealth Advisors LLC now owns 6,850 shares of the construction company's stock worth $514,000 after buying an additional 1,230 shares in the last quarter. Finally, Summit Global Investments raised its position in CRH by 275.1% in the 2nd quarter. Summit Global Investments now owns 10,915 shares of the construction company's stock valued at $818,000 after buying an additional 8,005 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CRH shares. Truist Financial upped their price target on CRH from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Stephens assumed coverage on shares of CRH in a report on Tuesday, June 18th. They set an "overweight" rating and a $95.00 target price for the company. Morgan Stanley upgraded shares of CRH from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. DA Davidson increased their price objective on shares of CRH from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada started coverage on CRH in a report on Tuesday, May 14th. They issued an "outperform" rating and a $110.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, CRH presently has an average rating of "Moderate Buy" and a consensus price target of $95.70.

CRH Stock Performance

CRH stock traded down $0.15 during midday trading on Monday, reaching $90.03. 3,816,693 shares of the company's stock were exchanged, compared to its average volume of 5,240,088. The stock's 50-day simple moving average is $79.79 and its 200 day simple moving average is $80.51. The firm has a market cap of $61.82 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 1.34 and a beta of 1.30. CRH plc has a 52 week low of $51.59 and a 52 week high of $90.96.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, hitting the consensus estimate of $1.85. The business had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $10.16 billion. Research analysts forecast that CRH plc will post 5.39 earnings per share for the current year.

CRH Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd will be paid 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 presently 29.97%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.