Lake Street Advisors Group LLC Has $519,000 Position in CRH plc (NYSE:CRH)

Lake Street Advisors Group LLC reduced its position in shares of CRH plc (NYSE:CRH) by 27.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,597 shares of the construction company’s stock after selling 2,081 shares during the period. Lake Street Advisors Group LLC’s holdings in CRH were worth $519,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CRH. GHP Investment Advisors Inc. grew its stake in CRH by 336.4% in the 2nd 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. UMB Bank n.a. increased its stake in CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of CRH during the 2nd quarter worth $43,000. Quarry LP bought a new position in shares of CRH in the second quarter worth about $49,000. Finally, Blue Trust Inc. lifted its stake in CRH by 341.7% in the 2nd quarter. Blue Trust Inc. now owns 848 shares of the construction company’s stock valued at $64,000 after purchasing an additional 656 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRH. Truist Financial raised their price target 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. StockNews.com cut shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. DA Davidson lifted their target price on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley raised shares of CRH from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Finally, Citigroup reduced their price objective on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, CRH currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.70.

CRH Stock Up 0.9 %

Shares of CRH stock opened at $92.39 on Friday. The firm has a market cap of $63.44 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.30 and a beta of 1.30. The company’s fifty day simple moving average is $89.68 and its two-hundred day simple moving average is $82.96. 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 for the quarter, meeting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $10.16 billion. As a group, sell-side analysts expect that CRH plc will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were issued a $0.35 dividend. This represents a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 23rd. CRH’s dividend payout ratio (DPR) is 26.46%.

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.