Greenhaven Associates Inc. Has $1.03 Billion Position in CRH plc (NYSE:CRH)

Greenhaven Associates Inc. grew its position in CRH plc (NYSE:CRH) by 0.3% during the third quarter, HoldingsChannel reports. The firm owned 11,155,273 shares of the construction company’s stock after buying an additional 35,209 shares during the period. CRH comprises approximately 12.1% of Greenhaven Associates Inc.’s portfolio, making the stock its 4th largest holding. Greenhaven Associates Inc.’s holdings in CRH were worth $1,034,540,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CRH. Bank of New York Mellon Corp lifted its stake in CRH by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock valued at $646,188,000 after buying an additional 431,172 shares during the period. Putnam Investments LLC boosted its stake in CRH by 3,384.4% during 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 in the last quarter. Lazard Asset Management LLC grew its holdings 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 worth $438,455,000 after purchasing an additional 5,068,682 shares during the period. Legal & General Group Plc increased 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 purchasing an additional 4,825,752 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of CRH by 103.9% during 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 purchasing an additional 2,365,589 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on CRH shares. DA Davidson boosted their target price on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Morgan Stanley raised 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 research report on Tuesday, July 9th. Truist Financial lifted their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup lowered their price objective on shares of CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Stephens assumed coverage on shares of CRH in a report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price objective for the company. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $95.70.

CRH Price Performance

NYSE CRH opened at $89.50 on Thursday. The business’s fifty day moving average is $86.41 and its 200-day moving average is $82.27. The stock has a market capitalization of $61.46 billion, a price-to-earnings ratio of 14.97, 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.

CRH (NYSE:CRH) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, hitting the consensus estimate of $1.85. The company had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $10.16 billion. Research analysts expect that CRH plc will post 5.44 EPS for the current fiscal year.

CRH Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 25th. Investors 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 (DPR) 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.