Allspring Global Investments Holdings LLC Acquires 16,440 Shares of CRH plc (NYSE:CRH)

Allspring Global Investments Holdings LLC raised its stake in CRH plc (NYSE:CRH) by 263.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 22,680 shares of the construction company’s stock after buying an additional 16,440 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CRH were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in CRH during the fourth quarter worth about $1,014,454,000. Greenhaven Associates Inc. increased its position in CRH by 0.8% during the 2nd quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock valued at $833,782,000 after purchasing an additional 91,267 shares during the period. Bank of New York Mellon Corp raised its stake in CRH by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock worth $646,188,000 after buying an additional 431,172 shares during the last quarter. Boston Partners lifted its stake in shares of CRH by 13.1% in the 4th quarter. Boston Partners now owns 8,106,296 shares of the construction company’s stock valued at $560,933,000 after purchasing an additional 937,804 shares during the period. Finally, Putnam Investments LLC boosted 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 buying an additional 6,587,066 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

CRH Price Performance

NYSE CRH opened at $88.06 on Wednesday. The stock’s 50 day moving average is $81.37 and its 200 day moving average is $81.11. 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 data 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 firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. As a group, equities research analysts expect that CRH plc will post 5.44 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. Shareholders of record on Friday, August 23rd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a yield of 1.7%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stephens assumed coverage on CRH in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 target price for the company. Morgan Stanley raised shares of CRH from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. Citigroup lowered their target price on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Truist Financial upped their price objective on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.70.

About CRH

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.