Daiwa Securities Group Inc. Increases Stock Holdings in CRH plc (NYSE:CRH)

Daiwa Securities Group Inc. boosted its position in CRH plc (NYSE:CRH) by 17.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,911 shares of the construction company’s stock after acquiring an additional 10,600 shares during the quarter. Daiwa Securities Group Inc.’s holdings in CRH were worth $6,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRH. Legal & General Group Plc boosted its holdings in CRH by 36,503.4% in the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after acquiring an additional 4,825,752 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of CRH by 103.9% during the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after purchasing an additional 2,365,589 shares in the last quarter. LGT Group Foundation lifted 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 worth $119,955,000 after purchasing an additional 1,580,527 shares in the last quarter. Baupost Group LLC MA lifted its stake in shares of CRH by 56.0% during the second quarter. Baupost Group LLC MA now owns 4,226,602 shares of the construction company’s stock worth $316,911,000 after purchasing an additional 1,517,059 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of CRH by 173.0% during the second quarter. Bank of Montreal Can now owns 2,128,963 shares of the construction company’s stock worth $160,183,000 after purchasing an additional 1,349,023 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CRH shares. JPMorgan Chase & Co. boosted their price objective on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. HSBC began coverage on CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price target on the stock. DA Davidson boosted their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Morgan Stanley boosted their price target on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Truist Financial boosted their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CRH has a consensus rating of “Buy” and a consensus price target of $106.42.

CRH Price Performance

Shares of CRH stock opened at $102.86 on Tuesday. CRH plc has a 12-month low of $61.51 and a 12-month high of $103.64. The firm has a market capitalization of $69.86 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.28 and a beta of 1.29. The business has a 50 day simple moving average of $94.49 and a 200 day simple moving average of $85.83.

CRH Cuts Dividend

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

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.