Advisors Asset Management Inc. Cuts Position in CRH plc (NYSE:CRH)

Advisors Asset Management Inc. lowered its position in CRH plc (NYSE:CRH) by 0.1% during the third quarter, Holdings Channel reports. The institutional investor owned 97,186 shares of the construction company’s stock after selling 108 shares during the quarter. Advisors Asset Management Inc.’s holdings in CRH were worth $9,013,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cetera Advisors LLC purchased a new position in CRH in the first quarter worth $1,277,000. LGT Group Foundation grew its stake in CRH by 8,189.3% during the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after buying an additional 1,580,527 shares during the last quarter. Assenagon Asset Management S.A. increased its position in CRH by 35.7% during the 2nd 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 in the last quarter. Cetera Investment Advisers raised its stake in CRH by 286.4% in the first 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 during the last quarter. Finally, M&G Plc acquired a new stake in CRH in the second quarter worth about $2,745,000. Institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of NYSE CRH opened at $100.24 on Thursday. The stock has a market capitalization of $68.08 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.44 and a beta of 1.29. The firm’s 50 day simple moving average is $93.66 and its 200-day simple moving average is $85.35. CRH plc has a 12 month low of $59.98 and a 12 month high of $102.51.

CRH Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be issued 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 37.20%.

Analysts Set New Price Targets

Several equities analysts recently commented on CRH shares. Truist Financial increased 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, November 8th. HSBC started 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. DA Davidson boosted their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $106.42.

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.