Greenwood Capital Associates LLC Cuts Stock Holdings in CRH plc (NYSE:CRH)

Greenwood Capital Associates LLC reduced its position in shares of CRH plc (NYSE:CRH) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,788 shares of the construction company’s stock after selling 412 shares during the period. CRH accounts for about 1.2% of Greenwood Capital Associates LLC’s holdings, making the stock its 17th biggest position. Greenwood Capital Associates LLC’s holdings in CRH were worth $9,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRH. Janney Montgomery Scott LLC boosted its stake in shares of CRH by 211.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 38,683 shares of the construction company’s stock worth $3,337,000 after buying an additional 26,276 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of CRH during the 1st quarter valued at $1,277,000. SG Americas Securities LLC raised its stake in shares of CRH by 510.9% during the 1st quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock worth $1,963,000 after purchasing an additional 19,027 shares during the period. LGT Group Foundation boosted its holdings in shares of CRH by 8,189.3% in the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after buying an additional 1,580,527 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in CRH by 30.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,651 shares of the construction company’s stock valued at $574,000 after buying an additional 1,558 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRH has been the topic of several research analyst reports. Truist Financial upped their price objective on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. DA Davidson upped their price objective on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $87.00 to $88.00 in a research note on Tuesday, July 9th. Citigroup dropped their price target on shares of CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Barclays started coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CRH has an average rating of “Moderate Buy” and a consensus target price of $97.00.

CRH Price Performance

Shares of CRH stock opened at $94.45 on Tuesday. The company’s fifty day simple moving average is $90.58 and its two-hundred day simple moving average is $83.58. CRH plc has a 12-month low of $56.88 and a 12-month high of $96.82.

CRH (NYSE:CRH) last issued its quarterly earnings results 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 business had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $10.16 billion. On average, equities analysts expect that CRH plc will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

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

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.