Point72 Europe London LLP Increases Holdings in CRH plc (NYSE:CRH)

Point72 Europe London LLP raised its stake in shares of CRH plc (NYSE:CRH) by 491.5% in the second quarter, Holdings Channel reports. The fund owned 483,855 shares of the construction company’s stock after acquiring an additional 402,055 shares during the period. CRH comprises approximately 3.0% of Point72 Europe London LLP’s holdings, making the stock its 4th biggest position. Point72 Europe London LLP’s holdings in CRH were worth $36,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in shares of CRH in the 4th quarter worth approximately $858,000. Wells Fargo & Company MN grew its holdings in shares of CRH by 13.7% during the fourth quarter. Wells Fargo & Company MN now owns 246,775 shares of the construction company’s stock worth $17,067,000 after purchasing an additional 29,720 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of CRH by 30.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company’s stock worth $54,000 after purchasing an additional 183 shares during the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of CRH in the fourth quarter valued at $212,000. Finally, Artisan Partners Limited Partnership raised its holdings in shares of CRH by 2,426.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,826,501 shares of the construction company’s stock valued at $195,481,000 after buying an additional 2,714,634 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Price Performance

NYSE:CRH opened at $91.49 on Wednesday. CRH plc has a 1-year low of $51.59 and a 1-year high of $93.07. The business’s 50-day moving average price is $85.08 and its two-hundred day moving average price is $81.92.

CRH (NYSE:CRH) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.85. The firm had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. Analysts predict that CRH plc will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on CRH shares. Stephens assumed coverage on shares of CRH in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 price objective for the company. StockNews.com cut shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Truist Financial increased their price objective on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup dropped their target price on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $87.00 to $88.00 in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.70.

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.