CRH plc (NYSE:CRH) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC cut its stake in CRH plc (NYSE:CRH) by 14.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,802 shares of the construction company’s stock after selling 2,380 shares during the period. Legacy Wealth Asset Management LLC’s holdings in CRH were worth $1,280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRH. Lazard Asset Management LLC grew its stake 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 valued at $438,455,000 after buying an additional 5,068,682 shares during the period. Legal & General Group Plc boosted its holdings in CRH by 36,503.4% in the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after acquiring an additional 4,825,752 shares during the last quarter. TD Asset Management Inc grew its position in CRH by 2,199.7% during the first quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock valued at $288,383,000 after acquiring an additional 3,197,092 shares during the period. Acadian Asset Management LLC increased its stake in CRH by 1,095.0% during the first 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 last quarter. Finally, American Century Companies Inc. raised its holdings in shares of CRH by 103.9% in the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after purchasing an additional 2,365,589 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Citigroup dropped their price objective on shares of CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. DA Davidson lifted 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, StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.70.

CRH Stock Performance

NYSE:CRH opened at $92.39 on Friday. The stock has a market cap of $63.44 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.30 and a beta of 1.30. CRH plc has a one year low of $51.59 and a one year high of $94.14. The business’s 50-day simple moving average is $89.52 and its 200 day simple moving average is $82.91.

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

CRH Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a yield of 1.7%. CRH’s dividend payout ratio (DPR) is 26.46%.

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.