Summit Financial LLC Sells 175 Shares of CRH plc (NYSE:CRH)

Summit Financial LLC decreased its position in shares of CRH plc (NYSE:CRH) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,676 shares of the construction company’s stock after selling 175 shares during the quarter. Summit Financial LLC’s holdings in CRH were worth $1,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CRH. First Financial Corp IN bought a new stake in CRH during the first quarter worth about $26,000. Orion Capital Management LLC lifted its position in CRH by 100.0% during the fourth quarter. Orion Capital Management LLC now owns 400 shares of the construction company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Pinnacle Bancorp Inc. bought a new stake in CRH during the fourth quarter worth about $30,000. UMB Bank n.a. bought a new stake in CRH during the fourth quarter worth about $33,000. Finally, WASHINGTON TRUST Co bought a new stake in CRH during the fourth quarter worth about $35,000. Institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Truist Financial boosted their target price on CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Royal Bank of Canada assumed coverage on CRH in a research note on Tuesday, May 14th. They set an “outperform” rating and a $110.00 target price for the company. StockNews.com downgraded CRH from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 13th. Citigroup boosted their target price on CRH from $101.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $82.00 target price (up previously from $80.00) on shares of CRH in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, CRH has a consensus rating of “Moderate Buy” and a consensus target price of $83.28.

CRH Stock Performance

Shares of CRH stock traded up $0.12 on Thursday, hitting $80.38. The stock had a trading volume of 3,058,978 shares, compared to its average volume of 3,612,742. The stock has a 50 day moving average of $82.18 and a 200 day moving average of $74.11. CRH plc has a twelve month low of $47.14 and a twelve month high of $88.00.

CRH (NYSE:CRH) last released its earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.60 billion. On average, equities research analysts predict that CRH plc will post 5.36 earnings per share for the current year.

CRH Increases Dividend

The company also recently announced a Variable dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, May 24th will be given a dividend of $0.35 per share. This represents a yield of 1.7%. The ex-dividend date of this dividend is Thursday, May 23rd. This is an increase from CRH’s previous Variable dividend of $0.23.

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.