LGT Group Foundation Increases Stake in CRH plc (NYSE:CRH)

LGT Group Foundation increased its stake in shares of CRH plc (NYSE:CRH - Free Report) by 8,189.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,599,827 shares of the construction company's stock after purchasing an additional 1,580,527 shares during the period. CRH makes up 1.8% of LGT Group Foundation's investment portfolio, making the stock its 12th largest holding. LGT Group Foundation owned 0.23% of CRH worth $119,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. First Financial Corp IN purchased a new position in shares of CRH during the first quarter valued at approximately $26,000. NBC Securities Inc. increased its holdings in CRH by 71.5% during the first quarter. NBC Securities Inc. now owns 415 shares of the construction company's stock valued at $35,000 after buying an additional 173 shares during the last quarter. Rothschild Investment LLC purchased a new stake in CRH during the second quarter valued at approximately $43,000. Richardson Financial Services Inc. purchased a new stake in CRH during the fourth quarter valued at approximately $47,000. Finally, EverSource Wealth Advisors LLC increased its holdings in CRH by 30.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company's stock valued at $54,000 after buying an additional 183 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Trading Down 1.2 %

Shares of NYSE:CRH traded down $1.06 during midday trading on Monday, reaching $84.27. 6,119,458 shares of the company were exchanged, compared to its average volume of 5,236,470. The business's fifty day moving average is $82.25 and its two-hundred day moving average is $81.31. CRH plc has a one year low of $51.59 and a one year high of $91.02. The stock has a market cap of $57.53 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting 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. As a group, sell-side analysts expect that CRH plc will post 5.44 EPS for the current year.

CRH Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.35 per share. The ex-dividend date is Friday, August 23rd. This represents a yield of 1.7%. CRH's dividend payout ratio (DPR) is currently 29.82%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRH. Royal Bank of Canada began coverage on shares of CRH in a report on Tuesday, May 14th. They set an "outperform" rating and a $110.00 target price for the company. Citigroup reduced their target price 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. 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. Truist Financial upped their price target on shares of CRH from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Finally, Stephens assumed coverage on shares of CRH in a research report on Tuesday, June 18th. They issued an "overweight" rating and a $95.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $95.70.

CRH 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.