Cresset Asset Management LLC Has $1 Million Stock Holdings in CRH plc (NYSE:CRH)

Cresset Asset Management LLC cut its holdings in shares of CRH plc (NYSE:CRH - Free Report) by 55.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,827 shares of the construction company's stock after selling 13,321 shares during the period. Cresset Asset Management LLC's holdings in CRH were worth $1,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CRH. Sumitomo Mitsui Trust Group Inc. boosted its stake in CRH by 7.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company's stock worth $144,605,000 after purchasing an additional 114,072 shares during the period. Park Avenue Securities LLC boosted its position in shares of CRH by 22.1% in the fourth quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company's stock worth $3,012,000 after buying an additional 5,889 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of CRH by 10.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company's stock valued at $226,732,000 after buying an additional 232,977 shares in the last quarter. Merit Financial Group LLC raised its position in CRH by 31.8% during the fourth quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company's stock valued at $2,151,000 after buying an additional 5,610 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in CRH by 19.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company's stock worth $6,733,000 after acquiring an additional 12,076 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Stock Up 1.2%

CRH stock traded up $1.15 during midday trading on Friday, hitting $98.98. 3,180,808 shares of the company traded hands, compared to its average volume of 5,788,477. CRH plc has a twelve month low of $71.18 and a twelve month high of $110.97. The stock has a market capitalization of $66.87 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The business has a 50 day simple moving average of $91.42 and a 200-day simple moving average of $96.29.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.77 billion. CRH had a return on equity of 16.35% and a net margin of 9.86%. Equities research analysts forecast that CRH plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Friday, May 23rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.50%. CRH's payout ratio is presently 23.52%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CRH shares. JPMorgan Chase & Co. dropped their target price on CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Morgan Stanley reissued an "overweight" rating on shares of CRH in a research note on Wednesday, May 7th. Royal Bank of Canada cut their price objective on CRH from $127.00 to $108.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Sanford C. Bernstein began coverage on CRH in a research note on Tuesday. They issued an "outperform" rating and a $115.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CRH has a consensus rating of "Buy" and a consensus price target of $112.58.

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.