Intech Investment Management LLC Trims Stock Position in CRH plc (NYSE:CRH)

Intech Investment Management LLC lessened its position in shares of CRH plc (NYSE:CRH) by 34.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 75,988 shares of the construction company’s stock after selling 39,143 shares during the quarter. Intech Investment Management LLC’s holdings in CRH were worth $7,047,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new stake in CRH in the 1st quarter valued at approximately $13,492,000. Blair William & Co. IL acquired a new stake in CRH in the 1st quarter valued at approximately $290,000. Pitcairn Co. acquired a new stake in CRH in the 1st quarter valued at approximately $241,000. Capital World Investors increased its holdings in CRH by 0.6% in the 1st quarter. Capital World Investors now owns 2,461,628 shares of the construction company’s stock valued at $212,340,000 after purchasing an additional 15,028 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of CRH by 60.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,091,205 shares of the construction company’s stock worth $94,122,000 after acquiring an additional 412,628 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

CRH has been the subject of several research reports. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial boosted their price target 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 Global Res raised shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Barclays assumed coverage on shares of CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target for the company. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CRH has a consensus rating of “Buy” and an average price target of $106.42.

CRH Price Performance

Shares of CRH opened at $100.53 on Friday. The stock’s 50-day moving average is $93.93 and its two-hundred day moving average is $85.46. The stock has a market cap of $68.28 billion, a PE ratio of 20.11, a P/E/G ratio of 1.46 and a beta of 1.29. CRH plc has a 12 month low of $60.83 and a 12 month high of $102.51.

CRH Cuts Dividend

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