APG Asset Management N.V. Invests $86.83 Million in CRH plc (NYSE:CRH)

APG Asset Management N.V. bought a new position in CRH plc (NYSE:CRH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,243,895 shares of the construction company’s stock, valued at approximately $86,830,000. APG Asset Management N.V. owned about 0.18% of CRH as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CRH. Greenhaven Associates Inc. raised its position in shares of 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 buying an additional 91,267 shares in the last quarter. Bank of New York Mellon Corp lifted 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 purchasing an additional 431,172 shares during the last quarter. Putnam Investments LLC boosted its holdings in shares of CRH by 3,384.4% in 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 in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of CRH by 35,497.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock worth $438,455,000 after purchasing an additional 5,068,682 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of CRH by 103.9% during the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after acquiring an additional 2,365,589 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stephens initiated coverage on CRH in a report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 target price for the company. Truist Financial upped their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $87.00 to $88.00 in a research report on Tuesday, July 9th. DA Davidson increased their target price on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.70.

CRH Stock Up 1.5 %

Shares of NYSE:CRH opened at $93.24 on Friday. The company has a 50-day moving average price of $85.30 and a 200 day moving average price of $81.99. CRH plc has a 12 month low of $51.59 and a 12 month high of $94.14.

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 the consensus estimate of $1.85. The business had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $10.16 billion. 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 was paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.35 per share. The ex-dividend date was Friday, August 23rd. This represents a dividend yield of 1.7%.

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.