New England Asset Management Inc. Boosts Stock Holdings in CRH plc (NYSE:CRH)

New England Asset Management Inc. boosted its position in CRH plc (NYSE:CRH) by 19.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,351 shares of the construction company’s stock after buying an additional 10,383 shares during the quarter. New England Asset Management Inc.’s holdings in CRH were worth $5,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CRH. Cetera Advisors LLC purchased a new stake in CRH in the 1st quarter worth about $1,277,000. LGT Group Foundation increased its stake in shares of CRH by 8,189.3% in 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 in the last quarter. Assenagon Asset Management S.A. raised its position in shares of CRH by 35.7% in 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 during the period. Cetera Investment Advisers lifted its stake in shares of CRH by 286.4% during 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 in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in CRH by 2.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,733 shares of the construction company’s stock worth $14,115,000 after buying an additional 3,220 shares during the period. 62.50% of the stock is currently owned by institutional investors.

CRH Stock Up 1.4 %

NYSE CRH opened at $99.66 on Tuesday. The stock’s 50-day simple moving average is $93.07 and its two-hundred day simple moving average is $85.11. CRH plc has a twelve month low of $58.57 and a twelve month high of $102.51. The company has a market capitalization of $67.69 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.43 and a beta of 1.29.

CRH Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be given a $0.262 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 1.4%. CRH’s payout ratio is 32.00%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRH shares. Truist Financial boosted their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. DA Davidson increased their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Hsbc Global Res raised CRH to a “strong-buy” rating in a report on Monday, November 11th. Morgan Stanley upped 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. Finally, HSBC assumed coverage on shares of CRH in a research note on Monday, November 11th. They set a “buy” rating and a $116.00 price objective for the company. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $105.55.

CRH 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.