Swiss National Bank Lowers Position in CRH plc (NYSE:CRH)

Swiss National Bank decreased its stake in shares of CRH plc (NYSE:CRH) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,039,560 shares of the construction company’s stock after selling 29,166 shares during the period. Swiss National Bank owned about 0.30% of CRH worth $189,149,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. boosted its position in CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after purchasing an additional 259 shares during the last quarter. Deseret Mutual Benefit Administrators bought a new position in CRH in the 3rd quarter worth about $25,000. UMB Bank n.a. grew its stake 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 acquiring an additional 125 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of CRH in the second quarter worth approximately $43,000. Institutional investors own 62.50% of the company’s stock.

Analyst Ratings Changes

CRH has been the subject of several research reports. HSBC initiated coverage on CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 target price on the stock. DA Davidson upped their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays began coverage on CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target for the company. Morgan Stanley lifted their price objective on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, 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. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $105.55.

CRH Price Performance

CRH stock opened at $98.29 on Monday. The business’s fifty day moving average is $92.77 and its 200 day moving average is $84.97. CRH plc has a one year low of $58.57 and a one year high of $102.51. The stock has a market capitalization of $66.76 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.43 and a beta of 1.29.

CRH Cuts Dividend

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

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.