CRH plc (NYSE:CRH) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in CRH plc (NYSE:CRH) by 5.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,510 shares of the construction company’s stock after purchasing an additional 1,274 shares during the quarter. CIBC Asset Management Inc’s holdings in CRH were worth $2,273,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CRH. Grove Bank & Trust grew its position in shares of CRH by 9.5% in the 3rd quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock valued at $132,000 after buying an additional 123 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the last quarter. CVA Family Office LLC increased its position in shares of CRH by 2.1% during the third quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock worth $567,000 after purchasing an additional 128 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of CRH by 2.9% in the 3rd quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock valued at $447,000 after purchasing an additional 135 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CRH shares. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research note on Monday, November 11th. Truist Financial increased their price target on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. HSBC assumed coverage on shares of CRH in a research note on Monday, November 11th. They set a “buy” rating and a $116.00 target price for the company. Finally, Morgan Stanley boosted their price target on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CRH currently has a consensus rating of “Buy” and a consensus price target of $105.55.

CRH Price Performance

CRH stock opened at $99.79 on Wednesday. The stock’s 50 day moving average price is $93.36 and its 200 day moving average price is $85.25. The company has a market cap of $67.78 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.44 and a beta of 1.29. CRH plc has a 1-year low of $58.57 and a 1-year high of $102.51.

CRH Cuts Dividend

The business also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.262 per share. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio (DPR) is presently 32.00%.

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.