Forsta AP Fonden Raises Position in CRH plc (NYSE:CRH)

Forsta AP Fonden boosted its position in CRH plc (NYSE:CRH) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 245,153 shares of the construction company’s stock after purchasing an additional 7,300 shares during the period. Forsta AP Fonden’s holdings in CRH were worth $22,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC increased its holdings 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 worth $438,455,000 after acquiring an additional 5,068,682 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of CRH by 36,503.4% during 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 buying an additional 4,825,752 shares in the last quarter. TD Asset Management Inc boosted its holdings in CRH by 2,199.7% in the 1st quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock worth $288,383,000 after buying an additional 3,197,092 shares during the period. Acadian Asset Management LLC grew its stake in CRH by 1,095.0% in the 1st 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 holdings in CRH by 103.9% during the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock valued at $348,112,000 after acquiring an additional 2,365,589 shares during the period. 62.50% of the stock is owned by institutional investors.

CRH Stock Up 0.9 %

NYSE:CRH traded up $0.79 during mid-day trading on Friday, hitting $92.39. 2,076,458 shares of the stock traded hands, compared to its average volume of 4,912,479. CRH plc has a 52 week low of $51.59 and a 52 week high of $94.14. The stock has a market capitalization of $63.44 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.30 and a beta of 1.30. The firm’s 50 day moving average is $89.52 and its two-hundred day moving average is $82.91.

CRH (NYSE:CRH) last issued its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $10.16 billion. As a group, research analysts predict that CRH plc will post 5.44 EPS for the current year.

CRH Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.35 per share. The ex-dividend date was Friday, August 23rd. This represents a dividend yield of 1.7%. CRH’s dividend payout ratio is currently 26.46%.

Analysts Set New Price Targets

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

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.