CRH plc (NYSE:CRH) is JCP Investment Management LLC’s 2nd Largest Position

JCP Investment Management LLC lessened its holdings in shares of CRH plc (NYSE:CRH) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,779 shares of the construction company’s stock after selling 6,100 shares during the quarter. CRH makes up 12.3% of JCP Investment Management LLC’s investment portfolio, making the stock its 2nd largest holding. JCP Investment Management LLC’s holdings in CRH were worth $11,005,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRH. Nordea Investment Management AB acquired a new stake in CRH in the first quarter valued at approximately $71,172,000. Janney Montgomery Scott LLC increased its position in CRH by 211.8% during the first quarter. Janney Montgomery Scott LLC now owns 38,683 shares of the construction company’s stock worth $3,337,000 after buying an additional 26,276 shares during the last quarter. Norden Group LLC bought a new position in CRH during the first quarter valued at about $4,041,000. Cetera Advisors LLC acquired a new stake in shares of CRH in the first quarter worth about $1,277,000. Finally, SG Americas Securities LLC boosted its stake in shares of CRH by 510.9% during the 1st quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock worth $1,963,000 after acquiring an additional 19,027 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Price Performance

NYSE CRH opened at $92.53 on Friday. CRH plc has a twelve month low of $51.59 and a twelve month high of $94.14. The company’s 50-day simple moving average is $85.58 and its 200 day simple moving average is $82.07.

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

CRH Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd were given a dividend of $0.35 per share. The ex-dividend date was Friday, August 23rd. This represents a dividend yield of 1.7%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRH. Stephens assumed coverage on CRH in a research report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 target price for the company. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. DA Davidson boosted their target price 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. Citigroup dropped their price objective on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Truist Financial upped their price target on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, CRH has a consensus 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.