Banque Pictet & Cie SA Cuts Stock Position in CRH plc (NYSE:CRH)

Banque Pictet & Cie SA lessened its position in CRH plc (NYSE:CRH) by 14.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,295 shares of the construction company’s stock after selling 17,275 shares during the quarter. Banque Pictet & Cie SA’s holdings in CRH were worth $7,895,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRH. Norges Bank purchased a new stake in CRH during the 4th quarter worth about $1,014,454,000. Putnam Investments LLC increased its holdings in CRH by 3,384.4% during the 4th quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock worth $469,022,000 after purchasing an additional 6,587,066 shares during the period. Lazard Asset Management LLC increased its holdings 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 worth $438,455,000 after purchasing an additional 5,068,682 shares during the period. TD Asset Management Inc increased its holdings in 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 worth $288,383,000 after purchasing an additional 3,197,092 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in CRH by 1,095.0% during the 1st quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock worth $282,512,000 after purchasing an additional 3,001,488 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Trading Up 2.7 %

Shares of NYSE CRH traded up $2.38 during trading hours on Friday, reaching $90.18. The stock had a trading volume of 3,827,730 shares, compared to its average volume of 5,248,812. The firm has a market cap of $61.92 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.34 and a beta of 1.30. CRH plc has a fifty-two week low of $51.59 and a fifty-two week high of $90.31. The firm has a 50-day moving average of $79.56 and a 200-day moving average of $80.36.

CRH (NYSE:CRH) last announced its 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 firm had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. On average, equities analysts predict that CRH plc will post 5.39 EPS for the current year.

CRH Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.35 per share. The ex-dividend date is Friday, August 23rd. This represents a yield of 1.7%. CRH’s payout ratio is 29.97%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRH. Stephens initiated coverage on CRH in a report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price target on the stock. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $87.00 to $88.00 in a report on Tuesday, July 9th. Citigroup dropped their price objective on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. DA Davidson increased their price objective on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada initiated coverage on CRH in a report on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.