Seven Eight Capital LP Raises Position in CRH plc (NYSE:CRH)

Seven Eight Capital LP boosted its position in CRH plc (NYSE:CRH) by 502.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,645 shares of the construction company’s stock after buying an additional 40,568 shares during the quarter. Seven Eight Capital LP’s holdings in CRH were worth $3,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. First Financial Corp IN bought a new stake in shares of CRH in the 1st quarter worth approximately $26,000. GHP Investment Advisors Inc. boosted its holdings in CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after acquiring an additional 259 shares in the last quarter. NBC Securities Inc. raised its stake in shares of CRH by 71.5% in the first quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock worth $35,000 after purchasing an additional 173 shares during the last quarter. Rothschild Investment LLC purchased a new stake in CRH during the second quarter valued at $43,000. Finally, Richardson Financial Services Inc. purchased a new stake in CRH during the fourth quarter valued at $47,000. 62.50% of the stock is owned by institutional investors.

CRH Trading Up 0.1 %

Shares of NYSE:CRH opened at $89.28 on Wednesday. CRH plc has a one year low of $51.59 and a one year high of $91.02. The business’s fifty day moving average price is $83.87 and its two-hundred day moving average price is $81.59.

CRH (NYSE:CRH) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share 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. As a group, sell-side analysts expect that CRH plc will post 5.45 earnings per share for the current fiscal year.

CRH Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, August 23rd. This represents a yield of 1.7%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRH. Citigroup dropped their price objective on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Morgan Stanley raised CRH from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $87.00 to $88.00 in a research report on Tuesday, July 9th. DA Davidson raised their price objective on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Stephens assumed coverage on CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.