Mirae Asset Global Investments Co. Ltd. Has $2.21 Million Stake in CRH plc (NYSE:CRH)

Mirae Asset Global Investments Co. Ltd. lowered its position in CRH plc (NYSE:CRH) by 5.2% in the third quarter, HoldingsChannel.com reports. The fund owned 23,857 shares of the construction company’s stock after selling 1,301 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CRH were worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB acquired a new stake in CRH in the 1st quarter valued at about $71,172,000. Janney Montgomery Scott LLC increased its holdings in shares of CRH by 211.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 38,683 shares of the construction company’s stock worth $3,337,000 after acquiring an additional 26,276 shares during the last quarter. Norden Group LLC bought a new stake in CRH in the 1st quarter valued at $4,041,000. Cetera Advisors LLC acquired a new stake in CRH during the 1st quarter valued at $1,277,000. Finally, SG Americas Securities LLC boosted its position in CRH by 510.9% during the first quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock worth $1,963,000 after purchasing an additional 19,027 shares during the period. Institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of NYSE:CRH opened at $95.98 on Thursday. The company has a market capitalization of $65.91 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.30 and a beta of 1.30. The business’s 50 day simple moving average is $90.23 and its 200 day simple moving average is $83.20. CRH plc has a 1 year low of $53.42 and a 1 year high of $96.82.

CRH (NYSE:CRH) last released its earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.85. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, sell-side analysts anticipate that CRH plc will post 5.44 EPS for the current fiscal year.

CRH Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CRH shares. Truist Financial raised their target price on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup cut their price objective on shares of CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. DA Davidson increased 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. Finally, Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, CRH has an average rating of “Moderate Buy” and a consensus target price of $97.00.

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.