Mount Yale Investment Advisors LLC Acquires 1,296 Shares of CRH plc (NYSE:CRH)

Mount Yale Investment Advisors LLC grew its stake in shares of CRH plc (NYSE:CRH) by 17.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,675 shares of the construction company’s stock after purchasing an additional 1,296 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in CRH were worth $650,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Greenhaven Associates Inc. grew its stake in CRH by 0.8% in the 2nd quarter. Greenhaven Associates Inc. now owns 11,120,064 shares of the construction company’s stock worth $833,782,000 after acquiring an additional 91,267 shares in the last quarter. Bank of New York Mellon Corp grew its stake in CRH by 5.3% in 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 purchasing an additional 431,172 shares in the last quarter. Putnam Investments LLC increased its holdings in 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 purchasing an additional 6,587,066 shares during the period. Lazard Asset Management LLC raised its position in 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 purchasing an additional 5,068,682 shares in the last quarter. Finally, American Century Companies Inc. lifted 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 buying an additional 2,365,589 shares during the period. 62.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CRH. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Stephens started coverage on shares of CRH in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price target for the company. StockNews.com lowered shares of CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Citigroup lowered their target price on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, DA Davidson increased their target price on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research report 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.com, CRH currently has a consensus rating of “Moderate Buy” and an average price target of $95.70.

CRH Trading Down 1.0 %

CRH stock opened at $91.97 on Tuesday. The firm has a market cap of $63.15 billion, a PE ratio of 15.35, a P/E/G ratio of 1.38 and a beta of 1.30. The stock’s 50 day simple moving average is $84.90 and its two-hundred day simple moving average is $81.85. CRH plc has a 12 month low of $51.59 and a 12 month high of $93.07.

CRH (NYSE:CRH) last released its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting the consensus estimate of $1.85. The firm had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, equities research analysts forecast that CRH plc will post 5.45 EPS for the current year.

CRH Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be paid a $0.35 dividend. The ex-dividend date is Friday, August 23rd. This represents a dividend yield of 1.7%. CRH’s dividend payout ratio is presently 29.72%.

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.