Nordea Investment Management AB Purchases 808,061 Shares of CRH plc (NYSE:CRH)

Nordea Investment Management AB boosted its holdings in shares of CRH plc (NYSE:CRH) by 48.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,484,746 shares of the construction company’s stock after buying an additional 808,061 shares during the period. Nordea Investment Management AB’s holdings in CRH were worth $231,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GHP Investment Advisors Inc. boosted its position in shares of CRH by 336.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after acquiring an additional 259 shares during the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in CRH in the third quarter valued at approximately $25,000. UMB Bank n.a. lifted its position in CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after purchasing an additional 125 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in CRH in the 3rd quarter worth approximately $35,000. Finally, Baillie Gifford & Co. grew its stake in CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after buying an additional 162 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRH has been the subject of a number of research analyst reports. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Barclays initiated coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target for the company. DA Davidson increased their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Truist Financial boosted their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $107.75.

CRH Price Performance

NYSE CRH opened at $93.49 on Tuesday. The business’s 50-day moving average is $98.02 and its 200 day moving average is $89.52. The stock has a market capitalization of $63.50 billion, a PE ratio of 18.70, a PEG ratio of 1.25 and a beta of 1.31. CRH plc has a 1 year low of $66.42 and a 1 year high of $104.23.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.262 per share. The ex-dividend date was Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio (DPR) is presently 21.00%.

CRH Company 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.