Generate Investment Management Ltd Sells 50,249 Shares of CRH plc (NYSE:CRH)

Generate Investment Management Ltd decreased its position in shares of CRH plc (NYSE:CRH - Free Report) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 426,807 shares of the construction company's stock after selling 50,249 shares during the period. CRH comprises approximately 1.9% of Generate Investment Management Ltd's holdings, making the stock its 13th biggest holding. Generate Investment Management Ltd owned about 0.06% of CRH worth $32,002,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CRH during the fourth quarter worth about $1,014,454,000. Putnam Investments LLC boosted its holdings in CRH by 3,384.4% in the fourth quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company's stock worth $469,022,000 after purchasing an additional 6,587,066 shares during the period. Lazard Asset Management LLC increased its stake in CRH by 35,497.5% during the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company's stock valued at $438,455,000 after purchasing an additional 5,068,682 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of CRH by 2,199.7% during the first 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 raised its holdings in shares of CRH by 1,095.0% during the first 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

Shares of CRH traded down $2.71 during trading hours on Tuesday, reaching $88.06. 4,360,049 shares of the company's stock traded hands, compared to its average volume of 5,210,669. The business's fifty day simple moving average is $81.07 and its two-hundred day simple moving average is $81.04. CRH plc has a twelve month low of $51.59 and a twelve month high of $91.02.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, hitting analysts' consensus estimates of $1.85. The company had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. Equities analysts anticipate that CRH plc will post 5.44 EPS for the current year.

CRH Cuts Dividend

The company also recently announced 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 yield of 1.7%. The ex-dividend date of this dividend is Friday, August 23rd.

Wall Street Analyst Weigh In

CRH has been the subject of a number of recent research reports. Morgan Stanley raised shares of CRH from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $87.00 to $88.00 in a research report on Tuesday, July 9th. DA Davidson increased 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. StockNews.com lowered CRH from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Stephens initiated coverage on CRH in a research report on Tuesday, June 18th. They issued an "overweight" rating and a $95.00 target price on the stock. Finally, Citigroup reduced their price target on shares of CRH from $109.00 to $99.00 and set a "buy" rating for the company in a report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently 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.