Truist Financial Corp Boosts Stake in CRH plc (NYSE:CRH)

Truist Financial Corp lifted its stake in shares of CRH plc (NYSE:CRH) by 12.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 374,584 shares of the construction company’s stock after buying an additional 40,962 shares during the period. Truist Financial Corp’s holdings in CRH were worth $28,086,000 at the end of the most recent quarter.

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

CRH Stock Down 1.0 %

CRH stock opened at $88.66 on Friday. The stock has a market capitalization of $60.88 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.33 and a beta of 1.30. The firm has a 50-day simple moving average of $86.60 and a 200-day simple moving average of $82.32. CRH plc has a 52 week low of $51.59 and a 52 week high of $94.14.

CRH (NYSE:CRH) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, hitting the consensus estimate of $1.85. The firm had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $10.16 billion. On average, analysts expect that CRH plc will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 25th. Investors of record on Friday, August 23rd were paid a $0.35 dividend. This represents a yield of 1.7%. The ex-dividend date was Friday, August 23rd. CRH’s dividend payout ratio is currently 29.77%.

Analyst Upgrades and Downgrades

CRH has been the topic of several analyst reports. Stephens started coverage on CRH in a research report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price target on the stock. StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. DA Davidson boosted their price target on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Truist Financial raised their price objective on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company 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.