The Manufacturers Life Insurance Company Sells 228,831 Shares of CRH plc (NYSE:CRH)

The Manufacturers Life Insurance Company trimmed its position in shares of CRH plc (NYSE:CRH) by 15.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,208,415 shares of the construction company’s stock after selling 228,831 shares during the period. The Manufacturers Life Insurance Company’s holdings in CRH were worth $90,165,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CRH. First Financial Corp IN bought a new stake in shares of CRH in the first quarter valued at about $26,000. GHP Investment Advisors Inc. lifted its stake in shares of 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 period. NBC Securities Inc. lifted its stake in shares of CRH by 71.5% in the first quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock valued at $35,000 after buying an additional 173 shares during the period. Rothschild Investment LLC bought a new stake in shares of CRH in the second quarter valued at about $43,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of CRH in the fourth quarter valued at about $47,000. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRH shares. StockNews.com cut shares of CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. DA Davidson increased their target price on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Stephens assumed 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. Morgan Stanley raised shares of CRH from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. Finally, Truist Financial increased their price target 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.70.

CRH Trading Down 0.8 %

Shares of CRH opened at $92.50 on Friday. CRH plc has a 52 week low of $51.59 and a 52 week high of $94.14. The firm’s 50-day simple moving average is $85.83 and its 200 day simple moving average is $82.13.

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

CRH Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were given a dividend of $0.35 per share. 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.