CRH plc (NYSE:CRH) Stake Lowered by National Bank of Canada FI

National Bank of Canada FI trimmed its position in shares of CRH plc (NYSE:CRH) by 95.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,434 shares of the construction company’s stock after selling 65,617 shares during the period. National Bank of Canada FI’s holdings in CRH were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of CRH in the 4th quarter valued at $1,014,454,000. Putnam Investments LLC lifted its position 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 buying an additional 6,587,066 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of CRH by 35,497.5% during 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 in the last quarter. TD Asset Management Inc increased its holdings 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 valued at $288,383,000 after acquiring an additional 3,197,092 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of 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 acquiring an additional 3,001,488 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRH. Truist Financial upped their target price on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Stephens initiated coverage on shares of CRH in a research note on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 target price on the stock. StockNews.com lowered shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Citigroup lowered their price target on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $87.00 to $88.00 in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.70.

CRH Stock Performance

Shares of CRH opened at $87.48 on Friday. The stock’s 50-day moving average price is $83.30 and its 200 day moving average price is $81.48. CRH plc has a 12-month low of $51.59 and a 12-month high of $91.02.

CRH (NYSE:CRH) last released its quarterly earnings data 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 firm had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $10.16 billion. Equities analysts predict that CRH plc will post 5.45 EPS for the current year.

CRH Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.35 per share. This represents a dividend yield of 1.7%. The ex-dividend date is Friday, August 23rd.

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.