Narwhal Capital Management Trims Stake in CRH plc (NYSE:CRH)

Narwhal Capital Management lessened its stake in shares of CRH plc (NYSE:CRH - Free Report) by 18.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,757 shares of the construction company's stock after selling 11,015 shares during the quarter. Narwhal Capital Management's holdings in CRH were worth $3,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in CRH during the fourth quarter valued at $3,358,000. Benjamin F. Edwards & Company Inc. purchased a new position in CRH during the fourth quarter valued at $118,000. National Bank of Canada FI increased its holdings in shares of CRH by 15.1% during the fourth quarter. National Bank of Canada FI now owns 71,141 shares of the construction company's stock valued at $4,871,000 after acquiring an additional 9,342 shares in the last quarter. Principal Securities Inc. bought a new position in shares of CRH during the fourth quarter valued at $1,222,000. Finally, Principal Street Partners LLC bought a new position in shares of CRH during the fourth quarter valued at $235,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Price Performance

CRH stock traded up $0.86 during trading on Friday, reaching $85.33. 6,131,565 shares of the company traded hands, compared to its average volume of 5,231,336. CRH plc has a 12 month low of $51.59 and a 12 month high of $91.02. The business has a 50 day simple moving average of $82.02 and a 200 day simple moving average of $81.24.

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 the consensus estimate of $1.85. The business had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. Research analysts predict that CRH plc will post 5.44 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. Investors of record on Friday, August 23rd will be issued a dividend of $0.35 per share. This represents a dividend yield of 1.7%. The ex-dividend date is Friday, August 23rd.

Wall Street Analysts Forecast Growth

CRH has been the subject of several research analyst reports. Truist Financial lifted their price objective on CRH from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Morgan Stanley upgraded CRH from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Stephens initiated coverage on CRH in a report on Tuesday, June 18th. They issued an "overweight" rating and a $95.00 price objective for the company. DA Davidson lifted their price objective on CRH from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Finally, Citigroup reduced their price objective 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 given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.