Parallel Advisors LLC Buys 213 Shares of CRH plc (NYSE:CRH)

Parallel Advisors LLC lifted its stake in CRH plc (NYSE:CRH) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,450 shares of the construction company’s stock after purchasing an additional 213 shares during the period. Parallel Advisors LLC’s holdings in CRH were worth $559,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRH. Janney Montgomery Scott LLC bought a new position in shares of CRH in the fourth quarter worth about $858,000. Independent Advisor Alliance bought a new position in CRH during the 4th quarter worth about $229,000. Brown Advisory Inc. grew its holdings in CRH by 9.4% during the 4th quarter. Brown Advisory Inc. now owns 164,110 shares of the construction company’s stock worth $11,350,000 after acquiring an additional 14,166 shares in the last quarter. Balentine LLC grew its holdings in CRH by 8.5% during the 4th quarter. Balentine LLC now owns 6,284 shares of the construction company’s stock worth $435,000 after acquiring an additional 494 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in CRH by 13.7% during the 4th quarter. Wells Fargo & Company MN now owns 246,775 shares of the construction company’s stock worth $17,067,000 after acquiring an additional 29,720 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CRH shares. Truist Financial increased their target price on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup dropped their target price 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. Stephens started coverage on shares of CRH in a report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 target price on the stock. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Finally, StockNews.com lowered shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, CRH has a consensus rating of “Moderate Buy” and an average target price of $95.70.

CRH Price Performance

CRH stock opened at $89.28 on Wednesday. The firm has a 50-day simple moving average of $83.87 and a two-hundred day simple moving average of $81.59. CRH plc has a one year low of $51.59 and a one year high of $91.02.

CRH (NYSE:CRH) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting the consensus estimate of $1.85. The company had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Equities research analysts expect that CRH plc will post 5.45 earnings per share for the current year.

CRH Cuts Dividend

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

CRH Company 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.