CRH plc (NYSE:CRH) Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its stake in CRH plc (NYSE:CRH - Free Report) by 11.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,945,518 shares of the construction company's stock after selling 396,914 shares during the period. TD Asset Management Inc owned approximately 0.43% of CRH worth $220,250,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in CRH during the fourth quarter worth about $1,014,454,000. Putnam Investments LLC raised 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 valued at $469,022,000 after buying an additional 6,587,066 shares during the period. Lazard Asset Management LLC lifted its position 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 buying an additional 5,068,682 shares in the last quarter. Acadian Asset Management LLC grew its stake in 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 buying an additional 3,001,488 shares during the period. Finally, Artisan Partners Limited Partnership grew its stake in CRH by 2,426.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,826,501 shares of the construction company's stock worth $195,481,000 after buying an additional 2,714,634 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Price Performance

CRH stock traded down $0.71 during midday trading on Thursday, hitting $84.47. 6,570,466 shares of the company's stock were exchanged, compared to its average volume of 5,226,072. The firm has a 50 day moving average price of $81.62 and a 200-day moving average price of $81.14. CRH plc has a 12-month low of $51.59 and a 12-month high of $91.02.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. The company had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. Analysts predict that CRH plc will post 5.44 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. Stockholders of record on Friday, August 23rd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a dividend yield of 1.7%.

Analyst Ratings Changes

Several research firms recently weighed in on CRH. StockNews.com lowered shares of CRH from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Morgan Stanley upgraded CRH from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $87.00 to $88.00 in a research note on Tuesday, July 9th. Royal Bank of Canada started 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. DA Davidson boosted 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. Finally, Citigroup decreased their price target on CRH from $109.00 to $99.00 and set a "buy" rating for the company in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, CRH currently has an average rating of "Moderate Buy" and an average target price of $95.70.

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.