Valeo Financial Advisors LLC Buys Shares of 2,426 CRH plc (NYSE:CRH)

Valeo Financial Advisors LLC bought a new stake in CRH plc (NYSE:CRH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,426 shares of the construction company’s stock, valued at approximately $225,000.

Several other hedge funds have also recently added to or reduced their stakes in CRH. V Square Quantitative Management LLC acquired a new position in CRH in the fourth quarter valued at about $99,000. American International Group Inc. bought a new stake in shares of CRH in the fourth quarter worth about $7,912,000. CWM LLC increased its holdings in shares of CRH by 37.4% in the first quarter. CWM LLC now owns 2,058 shares of the construction company’s stock worth $178,000 after acquiring an additional 560 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of CRH by 71.5% in the first quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock worth $35,000 after acquiring an additional 173 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of CRH by 41.6% in the first quarter. GAMMA Investing LLC now owns 728 shares of the construction company’s stock worth $63,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Stephens assumed coverage on CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price target for the company. DA Davidson increased their price objective on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Finally, Citigroup decreased their price objective on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.70.

CRH Stock Performance

CRH stock opened at $93.00 on Wednesday. The business has a 50 day moving average price of $88.08 and a two-hundred day moving average price of $82.52. CRH plc has a twelve month low of $51.59 and a twelve month high of $94.14.

CRH (NYSE:CRH) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. Equities research analysts forecast that CRH plc will post 5.44 EPS 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 given a $0.35 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a dividend yield of 1.7%.

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.