Ballentine Partners LLC Sells 2,206 Shares of CRH plc (NYSE:CRH)

Ballentine Partners LLC reduced its position in CRH plc (NYSE:CRH) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,954 shares of the construction company’s stock after selling 2,206 shares during the quarter. Ballentine Partners LLC’s holdings in CRH were worth $1,665,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Greenhaven Associates Inc. lifted its position in shares of CRH by 0.3% in the 3rd quarter. Greenhaven Associates Inc. now owns 11,155,273 shares of the construction company’s stock worth $1,034,540,000 after purchasing an additional 35,209 shares during the period. Bank of New York Mellon Corp lifted its holdings in CRH by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock worth $646,188,000 after buying an additional 431,172 shares during the period. Lazard Asset Management LLC boosted its position in 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 valued at $438,455,000 after acquiring an additional 5,068,682 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of CRH by 36,503.4% in 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 acquiring an additional 4,825,752 shares during the period. Finally, American Century Companies Inc. raised its position in shares of CRH by 103.9% in the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after acquiring an additional 2,365,589 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Stock Up 0.9 %

Shares of NYSE CRH opened at $92.39 on Friday. CRH plc has a 52 week low of $51.59 and a 52 week high of $94.14. The business’s 50 day moving average price is $89.52 and its 200 day moving average price is $82.91. The firm has a market cap of $63.44 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.30 and a beta of 1.30.

CRH (NYSE:CRH) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.85. The business had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. As a group, research analysts expect that CRH plc will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CRH shares. DA Davidson raised 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 reduced their price objective on shares of CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Truist Financial lifted 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. StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.70.

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.