CRH plc (NYSE:CRH) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its stake in shares of CRH plc (NYSE:CRH) by 30.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 956,106 shares of the construction company’s stock after selling 410,333 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CRH were worth $88,459,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Rockland Trust Co. acquired a new stake in shares of CRH during the 4th quarter worth $230,000. Pallas Capital Advisors LLC purchased a new stake in CRH during the fourth quarter valued at about $246,000. Miracle Mile Advisors LLC acquired a new stake in CRH during the fourth quarter worth about $235,000. Graypoint LLC lifted its stake in shares of CRH by 5.4% in the 4th quarter. Graypoint LLC now owns 3,315 shares of the construction company’s stock valued at $307,000 after purchasing an additional 170 shares in the last quarter. Finally, Horizons Wealth Management acquired a new position in CRH during the fourth quarter valued at approximately $463,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Price Performance

CRH opened at $92.66 on Wednesday. CRH plc has a 1-year low of $66.42 and a 1-year high of $104.23. The company has a market capitalization of $62.93 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 1.24 and a beta of 1.29. The business has a 50 day moving average price of $97.62 and a two-hundred day moving average price of $90.28.

CRH Cuts Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRH. DA Davidson upped their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Truist Financial raised their price target on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, HSBC began coverage on CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 target price for the company. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $107.75.

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.