CRH plc (NYSE:CRH) Shares Bought by KBC Group NV

KBC Group NV lifted its stake in CRH plc (NYSE:CRH) by 7.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,310,177 shares of the construction company’s stock after acquiring an additional 89,955 shares during the quarter. KBC Group NV’s holdings in CRH were worth $121,218,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CRH. Deseret Mutual Benefit Administrators acquired a new position in shares of CRH during the third quarter worth $25,000. UMB Bank n.a. increased its stake in CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after buying an additional 125 shares during the period. Meeder Asset Management Inc. acquired a new position in CRH in the 3rd quarter worth $35,000. Baillie Gifford & Co. boosted its position in 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 buying an additional 162 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of CRH during the second quarter valued at about $49,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CRH. DA Davidson increased their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. Truist Financial lifted 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. HSBC initiated coverage on shares of CRH in a research note on Monday, November 11th. They set a “buy” rating and a $116.00 price objective on the stock. Morgan Stanley boosted their target price on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Barclays began coverage on shares of CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CRH presently has a consensus rating of “Buy” and a consensus target price of $107.75.

CRH Stock Performance

CRH stock opened at $101.36 on Monday. The stock’s fifty day moving average is $97.35 and its two-hundred day moving average is $91.55. The stock has a market capitalization of $68.85 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.09 and a beta of 1.31. CRH plc has a 1 year low of $68.76 and a 1 year high of $104.23.

CRH Cuts Dividend

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

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.