Fortune Financial Advisors LLC Boosts Stake in CRH plc (NYSE:CRH)

Fortune Financial Advisors LLC grew its position in shares of CRH plc (NYSE:CRH) by 27.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 18,135 shares of the construction company’s stock after acquiring an additional 3,878 shares during the period. Fortune Financial Advisors LLC’s holdings in CRH were worth $1,360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRH. Norges Bank purchased a new position in shares of CRH during the 4th quarter worth approximately $1,014,454,000. Putnam Investments LLC grew its holdings in shares of CRH by 3,384.4% during the 4th quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock worth $469,022,000 after acquiring an additional 6,587,066 shares during the period. Lazard Asset Management LLC grew its holdings in shares of CRH by 35,497.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock worth $438,455,000 after acquiring an additional 5,068,682 shares during the period. TD Asset Management Inc grew its holdings in shares of CRH by 2,199.7% during the 1st quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock worth $288,383,000 after acquiring an additional 3,197,092 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of CRH by 1,095.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock worth $282,512,000 after acquiring an additional 3,001,488 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CRH shares. Citigroup cut their price target on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Truist Financial upped their price target on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Stephens started coverage on CRH in a research note on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price target on the stock. Finally, DA Davidson upped their price target on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CRH has an average rating of “Moderate Buy” and an average price target of $95.70.

CRH Trading Down 0.4 %

CRH stock opened at $85.26 on Thursday. The stock’s 50 day simple moving average is $82.76 and its 200 day simple moving average is $81.38. The stock has a market capitalization of $58.55 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30. CRH plc has a 12-month low of $51.59 and a 12-month high of $91.02.

CRH (NYSE:CRH) last released its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting the consensus estimate of $1.85. The firm had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $10.16 billion. On average, research analysts predict that CRH plc will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

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