Zions Bancorporation N.A. Raises Stock Holdings in CRH plc (NYSE:CRH)

Zions Bancorporation N.A. boosted its position in shares of CRH plc (NYSE:CRH) by 14.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,809 shares of the construction company’s stock after buying an additional 852 shares during the quarter. Zions Bancorporation N.A.’s holdings in CRH were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Cetera Advisors LLC bought a new stake in shares of CRH in the first quarter worth about $1,277,000. LGT Group Foundation increased its stake in shares of CRH by 8,189.3% during the second quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock valued at $119,955,000 after buying an additional 1,580,527 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of CRH by 35.7% during 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 buying an additional 1,114,177 shares during the period. Cetera Investment Advisers raised its holdings in shares of CRH by 286.4% during the first quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company’s stock valued at $4,671,000 after acquiring an additional 40,135 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in CRH by 2.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,733 shares of the construction company’s stock worth $14,115,000 after acquiring an additional 3,220 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CRH shares. DA Davidson upped their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Morgan Stanley increased their price target on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. HSBC started coverage on CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price objective on the stock. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research report on Monday, November 11th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $105.55.

CRH Price Performance

Shares of CRH opened at $98.32 on Friday. The firm has a market cap of $67.12 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.29. The company has a 50 day simple moving average of $92.51 and a two-hundred day simple moving average of $84.73. CRH plc has a 1 year low of $58.57 and a 1 year high of $102.51.

CRH Cuts Dividend

The firm also recently declared 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. This represents a yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s dividend payout ratio is presently 37.20%.

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.