Picton Mahoney Asset Management Invests $1.88 Million in CRH plc (NYSE:CRH)

Picton Mahoney Asset Management bought a new position in CRH plc (NYSE:CRH - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,100 shares of the construction company's stock, valued at approximately $1,881,000.

A number of other institutional investors have also recently modified their holdings of CRH. Norges Bank purchased a new position in CRH in the 4th quarter worth approximately $1,014,454,000. Greenhaven Associates Inc. raised its stake in shares of CRH by 0.8% in the second quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company's stock worth $833,782,000 after purchasing an additional 91,267 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $646,188,000 after purchasing an additional 431,172 shares in the last quarter. Boston Partners boosted its position in shares of CRH by 13.1% during the fourth quarter. Boston Partners now owns 8,106,296 shares of the construction company's stock valued at $560,933,000 after buying an additional 937,804 shares during the last quarter. Finally, Putnam Investments LLC increased its holdings 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 worth $469,022,000 after buying an additional 6,587,066 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Stock Performance

NYSE:CRH traded up $2.46 during trading hours on Friday, reaching $90.77. The stock had a trading volume of 6,967,567 shares, compared to its average volume of 4,110,528. CRH plc has a 52 week low of $51.59 and a 52 week high of $91.02. The company has a 50 day moving average price of $80.74 and a two-hundred day moving average price of $80.89.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, hitting the consensus estimate of $1.85. The business had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. As a group, equities analysts anticipate that CRH plc will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

The firm 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 dividend yield of 1.7%. The ex-dividend date is Friday, August 23rd.

Analysts Set New Price Targets

CRH has been the topic of several research analyst reports. Citigroup lowered their target price on shares of CRH from $109.00 to $99.00 and set a "buy" rating on the stock in a research note on Thursday, July 11th. DA Davidson upped their target price on shares of CRH from $100.00 to $110.00 and gave the company a "buy" rating in a report on Friday, August 9th. Royal Bank of Canada assumed coverage on shares of CRH in a research note on Tuesday, May 14th. They set an "outperform" rating and a $110.00 price target on the stock. Stephens started coverage on CRH in a research note on Tuesday, June 18th. They issued an "overweight" rating and a $95.00 price objective for the company. Finally, StockNews.com downgraded CRH from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Three research 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 a consensus 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.