Waverton Investment Management Ltd Acquires New Holdings in CRH plc (NYSE:CRH)

Waverton Investment Management Ltd acquired a new stake in shares of CRH plc (NYSE:CRH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,376 shares of the construction company’s stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position in CRH by 35,497.5% in the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock worth $438,455,000 after acquiring an additional 5,068,682 shares during the period. Legal & General Group Plc raised its position in CRH by 36,503.4% in the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after acquiring an additional 4,825,752 shares during the period. TD Asset Management Inc raised its position in CRH by 2,199.7% in the first quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock worth $288,383,000 after acquiring an additional 3,197,092 shares during the period. Acadian Asset Management LLC raised its position in CRH by 1,095.0% in the first quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock worth $282,512,000 after acquiring an additional 3,001,488 shares during the period. Finally, American Century Companies Inc. raised its position in CRH by 103.9% in the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after acquiring an additional 2,365,589 shares during the period. Institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of CRH opened at $102.31 on Tuesday. CRH plc has a 1-year low of $58.57 and a 1-year high of $102.51. The company has a 50-day moving average of $91.44 and a 200 day moving average of $84.19. The firm has a market capitalization of $69.84 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.44 and a beta of 1.29.

CRH Cuts Dividend

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

Analyst Ratings Changes

CRH has been the topic of several recent analyst reports. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research report on Monday. Truist Financial raised their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. HSBC started coverage on shares of CRH in a research report on Monday. They set a “buy” rating and a $116.00 price objective on the stock. Morgan Stanley raised their target price on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday. Finally, DA Davidson raised their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, CRH presently has an average rating of “Moderate Buy” and a consensus price target of $105.55.

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.