CRH plc (NYSE:CRH) Shares Sold by Brasada Capital Management LP

Brasada Capital Management LP decreased its holdings in CRH plc (NYSE:CRH) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 156,825 shares of the construction company’s stock after selling 8,534 shares during the period. CRH makes up approximately 2.2% of Brasada Capital Management LP’s investment portfolio, making the stock its 12th largest position. 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 bought and sold shares of the company. First Financial Corp IN acquired a new position in shares of CRH during the 1st quarter valued at about $26,000. NBC Securities Inc. boosted its holdings in CRH by 71.5% in the 1st quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock valued at $35,000 after purchasing an additional 173 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of CRH in the 2nd quarter valued at approximately $43,000. Richardson Financial Services Inc. acquired a new stake in shares of CRH during the 4th quarter worth approximately $47,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of CRH by 30.5% during the 4th 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 period. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Stock Performance

Shares of CRH stock opened at $85.58 on Wednesday. CRH plc has a fifty-two week low of $51.59 and a fifty-two week high of $91.02. The company has a 50 day moving average price of $82.52 and a 200 day moving average price of $81.36. The stock has a market capitalization of $58.42 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30.

CRH (NYSE:CRH) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $10.16 billion. On average, research analysts forecast that CRH plc will post 5.44 EPS for the current fiscal year.

CRH Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd will be paid a $0.35 dividend. This represents a dividend yield of 1.7%. The ex-dividend date is Friday, August 23rd. CRH’s payout ratio is presently 29.82%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank of Canada started coverage on CRH in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 price objective for the company. Morgan Stanley raised CRH from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. Stephens started coverage on shares of CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective on the stock. StockNews.com lowered shares of CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Truist Financial boosted their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.