Bridgewater Associates LP Has $2.24 Million Stake in CRH plc (NYSE:CRH)

Bridgewater Associates LP raised its holdings in CRH plc (NYSE:CRH) by 325.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,181 shares of the construction company’s stock after buying an additional 18,502 shares during the period. Bridgewater Associates LP’s holdings in CRH were worth $2,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cetera Advisors LLC acquired a new stake in shares of CRH in the first quarter valued at about $1,277,000. LGT Group Foundation raised its stake in shares of 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 purchasing an additional 1,580,527 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of 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 worth $317,778,000 after purchasing an additional 1,114,177 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of 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 in the last quarter. Finally, M&G Plc acquired a new position in CRH during the second quarter worth $2,745,000. 62.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. HSBC assumed coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 target price for the company. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Hsbc Global Res raised CRH to a “strong-buy” rating in a research report on Monday, November 11th. Finally, DA Davidson boosted their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One research 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 stock. According to data from MarketBeat, CRH currently has an average rating of “Buy” and a consensus price target of $106.42.

CRH Price Performance

CRH opened at $102.27 on Friday. The business has a fifty day simple moving average of $95.37 and a 200 day simple moving average of $86.35. CRH plc has a 1 year low of $62.45 and a 1 year high of $104.19. The company has a market capitalization of $69.46 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be given a $0.262 dividend. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is presently 37.20%.

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.