Zurcher Kantonalbank Zurich Cantonalbank Has $28.12 Million Stock Position in CRH plc (NYSE:CRH)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in CRH plc (NYSE:CRH - Free Report) by 13.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 377,287 shares of the construction company's stock after selling 56,963 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of CRH worth $28,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRH. Norges Bank acquired a new position in shares of CRH in the 4th quarter valued at $1,014,454,000. Putnam Investments LLC grew its holdings in shares of 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 during the period. Lazard Asset Management LLC boosted its stake in 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 period. TD Asset Management Inc boosted its stake in CRH by 2,199.7% in the 1st quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company's stock worth $288,383,000 after purchasing an additional 3,197,092 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in CRH by 1,095.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company's stock worth $282,512,000 after purchasing an additional 3,001,488 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Price Performance

NYSE:CRH traded up $0.60 on Thursday, hitting $88.32. 2,925,502 shares of the company's stock were exchanged, compared to its average volume of 5,205,243. The firm has a 50-day moving average price of $80.19 and a 200-day moving average price of $80.66. CRH plc has a 52 week low of $51.59 and a 52 week high of $90.96. The company has a market cap of $60.65 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly 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. On average, research analysts expect that CRH plc will post 5.39 earnings per share for the current fiscal year.

CRH Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stephens assumed coverage on shares of CRH in a research note on Tuesday, June 18th. They issued an "overweight" rating and a $95.00 target price for the company. StockNews.com lowered shares of CRH from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Truist Financial upped their target price 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. DA Davidson upped their target price 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 assumed coverage on shares of CRH in a research note on Tuesday, May 14th. They issued an "outperform" rating and a $110.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, CRH presently has an average rating of "Moderate Buy" and a consensus target price of $95.70.

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.

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