CRH plc (NYSE:CRH) Holdings Decreased by Brasada Capital Management LP

Brasada Capital Management LP reduced its stake in CRH plc (NYSE:CRH - Free Report) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 156,825 shares of the construction company's stock after selling 8,534 shares during the period. CRH accounts for approximately 2.2% of Brasada Capital Management LP's holdings, making the stock its 12th largest holding. Brasada Capital Management LP's holdings in CRH were worth $12,485,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB acquired a new stake in CRH in the first quarter valued at $71,172,000. Janney Montgomery Scott LLC grew its stake in shares of CRH by 211.8% during the first quarter. Janney Montgomery Scott LLC now owns 38,683 shares of the construction company's stock worth $3,337,000 after buying an additional 26,276 shares during the last quarter. Artisan Partners Limited Partnership raised its position in CRH by 2,426.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,826,501 shares of the construction company's stock valued at $195,481,000 after purchasing an additional 2,714,634 shares during the last quarter. Norden Group LLC bought a new position in shares of CRH during the first quarter valued at $4,041,000. Finally, Cetera Advisors LLC acquired a new position in CRH during the 1st quarter worth about $1,277,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRH shares. Citigroup decreased their price target on shares of CRH from $109.00 to $99.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. StockNews.com cut shares of CRH from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. 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 price objective for the company. Truist Financial increased their price target on CRH from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Finally, DA Davidson lifted their price objective on shares of CRH from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.70.

CRH Price Performance

NYSE CRH traded down $0.35 during mid-day trading on Wednesday, hitting $85.26. The company's stock had a trading volume of 2,770,135 shares, compared to its average volume of 5,214,794. The firm has a market capitalization of $58.55 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30. The stock's fifty day simple moving average is $82.76 and its two-hundred day simple moving average is $81.38. CRH plc has a 52-week low of $51.59 and a 52-week high of $91.02.

CRH (NYSE:CRH - Get Free Report) last announced its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.85. The business had revenue of $9.65 billion for the quarter, compared to analysts' expectations of $10.16 billion. On average, equities analysts forecast that CRH plc will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd will be issued 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%. CRH's dividend payout ratio (DPR) is 29.82%.

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.