CRH plc (NYSE:CRH) Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in CRH plc (NYSE:CRH) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,302 shares of the construction company’s stock after selling 320 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CRH were worth $955,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Cetera Advisors LLC acquired a new stake in CRH during the 1st quarter worth about $1,277,000. LGT Group Foundation boosted its holdings in shares of CRH by 8,189.3% during the second quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after purchasing an additional 1,580,527 shares during the period. Assenagon Asset Management S.A. grew its position in CRH by 35.7% during the second quarter. Assenagon Asset Management S.A. now owns 4,238,173 shares of the construction company’s stock valued at $317,778,000 after purchasing an additional 1,114,177 shares in the last quarter. Cetera Investment Advisers increased its stake in CRH by 286.4% in the 1st quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company’s stock valued at $4,671,000 after buying an additional 40,135 shares during the period. Finally, M&G Plc purchased a new stake in CRH in the 2nd quarter worth approximately $2,745,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRH. HSBC initiated coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price target on the stock. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Truist Financial increased their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Barclays began coverage on shares of CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $106.42.

CRH Price Performance

Shares of CRH opened at $101.94 on Friday. The company has a market capitalization of $69.24 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. CRH plc has a one year low of $61.51 and a one year high of $104.19. The company’s fifty day moving average price is $95.18 and its 200 day moving average price is $86.18.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be paid a $0.262 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is presently 37.20%.

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.