Boston Financial Mangement LLC Invests $24.78 Million in CRH plc (NYSE:CRH)

Boston Financial Mangement LLC acquired a new stake in shares of CRH plc (NYSE:CRH) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 267,237 shares of the construction company’s stock, valued at approximately $24,784,000.

Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC grew its stake in shares of CRH by 35,497.5% during the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock worth $438,455,000 after acquiring an additional 5,068,682 shares during the last quarter. Legal & General Group Plc grew its holdings in CRH by 36,503.4% during the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after acquiring an additional 4,825,752 shares during the period. TD Asset Management Inc increased its holdings in shares of 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 valued at $288,383,000 after purchasing an additional 3,197,092 shares in the last quarter. Acadian Asset Management LLC increased its holdings in CRH by 1,095.0% in the first quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock valued at $282,512,000 after buying an additional 3,001,488 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in 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 purchasing an additional 2,365,589 shares during the period. 62.50% of the stock is currently owned by institutional investors.

CRH Trading Up 2.2 %

NYSE:CRH opened at $94.39 on Tuesday. CRH plc has a 12-month low of $53.05 and a 12-month high of $94.52. The firm has a market cap of $64.82 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.30 and a beta of 1.30. The company’s 50-day moving average is $89.87 and its two-hundred day moving average is $83.02.

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, 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. On average, equities research analysts forecast that CRH plc will post 5.44 earnings per share for the current fiscal year.

CRH Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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.