KP Management LLC Boosts Position in CRH plc (NYSE:CRH)

KP Management LLC raised its position in CRH plc (NYSE:CRH) by 14.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 40,000 shares of the construction company’s stock after purchasing an additional 5,000 shares during the period. KP Management LLC’s holdings in CRH were worth $2,999,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CRH. Putnam Investments LLC raised its holdings in shares of CRH by 3,384.4% in the fourth quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock worth $469,022,000 after acquiring an additional 6,587,066 shares during the last quarter. Lazard Asset Management LLC raised its stake in CRH by 35,497.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock valued at $438,455,000 after purchasing an additional 5,068,682 shares during the last quarter. Legal & General Group Plc lifted its holdings in CRH by 36,503.4% in the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after purchasing an additional 4,825,752 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of CRH by 2,199.7% during the 1st quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock worth $288,383,000 after purchasing an additional 3,197,092 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of CRH by 1,095.0% during the first quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock worth $282,512,000 after buying an additional 3,001,488 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRH. Truist Financial raised their target price 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. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Stephens started coverage on CRH in a research report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 target price on the stock. DA Davidson lifted 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. Finally, StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.70.

CRH Stock Performance

NYSE CRH opened at $90.85 on Wednesday. The firm has a market capitalization of $62.38 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.33 and a beta of 1.30. CRH plc has a one year low of $51.59 and a one year high of $94.14. The company’s 50 day moving average price is $86.22 and its 200 day moving average price is $82.22.

CRH (NYSE:CRH) last posted its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting the consensus estimate of $1.85. The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. Sell-side analysts forecast that CRH plc will post 5.44 EPS for the current fiscal year.

CRH Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Investors of record on Friday, August 23rd were issued 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’s payout ratio is currently 29.77%.

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.