Epoch Investment Partners Inc. Makes New Investment in CRH plc (NYSE:CRH)

Epoch Investment Partners Inc. acquired a new position in CRH plc (NYSE:CRH) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 140,609 shares of the construction company’s stock, valued at approximately $12,128,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in CRH in the fourth quarter worth about $1,014,454,000. Boston Partners lifted its stake in CRH by 13.1% in the fourth quarter. Boston Partners now owns 8,106,296 shares of the construction company’s stock worth $560,933,000 after acquiring an additional 937,804 shares during the period. Putnam Investments LLC lifted its stake in CRH by 3,384.4% in the fourth quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock worth $469,022,000 after acquiring an additional 6,587,066 shares during the period. Sprucegrove Investment Management Ltd. purchased a new stake in CRH in the fourth quarter worth about $395,583,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in CRH by 8.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 4,176,538 shares of the construction company’s stock worth $288,097,000 after acquiring an additional 315,190 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Stock Performance

CRH opened at $81.74 on Monday. CRH plc has a 52-week low of $51.59 and a 52-week high of $88.00. The firm’s 50-day moving average price is $78.07 and its 200-day moving average price is $78.63.

CRH (NYSE:CRH) last issued its quarterly earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.60 billion. On average, analysts expect that CRH plc will post 5.39 EPS for the current year.

CRH Increases Dividend

The firm also recently declared a Variable dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, May 24th were issued a $0.35 dividend. This represents a yield of 1.7%. The ex-dividend date was Thursday, May 23rd. This is an increase from CRH’s previous Variable dividend of $0.23.

Analysts Set New Price Targets

A number of brokerages have commented on CRH. Truist Financial boosted their target price on shares of CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 13th. StockNews.com downgraded shares of CRH from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. Stephens began coverage on shares of CRH in a report on Tuesday, June 18th. They issued an “overweight” rating and a $95.00 target price for the company. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Finally, Royal Bank of Canada initiated coverage on shares of CRH in a report on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.90.

About CRH

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.