Diversify Advisory Services LLC Decreases Stock Position in CRH plc (NYSE:CRH)

Diversify Advisory Services LLC cut its stake in CRH plc (NYSE:CRH) by 29.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,472 shares of the construction company’s stock after selling 1,441 shares during the period. Diversify Advisory Services LLC’s holdings in CRH were worth $319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lazard Asset Management LLC raised its stake in CRH by 35,497.5% in the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock valued at $438,455,000 after buying an additional 5,068,682 shares in the last quarter. Legal & General Group Plc raised its stake in CRH by 36,503.4% in the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after buying an additional 4,825,752 shares in the last quarter. TD Asset Management Inc raised its stake in CRH by 2,199.7% in the first quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock valued at $288,383,000 after buying an additional 3,197,092 shares in the last quarter. Acadian Asset Management LLC raised its stake in CRH by 1,095.0% in the first quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock valued at $282,512,000 after buying an additional 3,001,488 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in CRH by 103.9% in the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock valued at $348,112,000 after buying an additional 2,365,589 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRH has been the topic of a number of analyst reports. Truist Financial raised their price target on 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 CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Citigroup cut their target price on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Barclays started coverage on CRH in a research report on Tuesday. They set an “overweight” rating and a $110.00 target price on the stock. Finally, Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $87.00 to $88.00 in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CRH currently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

CRH Stock Down 0.5 %

Shares of CRH stock opened at $95.45 on Friday. The stock has a market capitalization of $65.16 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.30. CRH plc has a 52-week low of $53.42 and a 52-week high of $96.82. The stock’s 50-day moving average price is $90.38 and its 200 day moving average price is $83.28.

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

CRH Cuts Dividend

The firm also recently disclosed 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 was Friday, August 23rd. CRH’s dividend payout ratio is presently 26.46%.

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.