abrdn plc Reduces Holdings in CRH plc (NYSE:CRH)

abrdn plc trimmed its holdings in shares of CRH plc (NYSE:CRH) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,439,284 shares of the construction company’s stock after selling 25,743 shares during the period. abrdn plc’s holdings in CRH were worth $133,659,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRH. AQR Capital Management LLC purchased a new position in shares of CRH during the 2nd quarter worth approximately $628,000. Cetera Investment Advisers increased its stake in shares of CRH by 1.2% during the 2nd quarter. Cetera Investment Advisers now owns 54,780 shares of the construction company’s stock worth $4,088,000 after purchasing an additional 632 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of CRH during the 2nd quarter worth approximately $2,138,000. GAMMA Investing LLC increased its stake in shares of CRH by 106.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,291 shares of the construction company’s stock worth $120,000 after purchasing an additional 665 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV purchased a new position in shares of CRH during the 3rd quarter worth approximately $601,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CRH shares. Citigroup dropped their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley lifted their price objective on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Truist Financial lifted their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, DA Davidson raised their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One investment 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. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $107.75.

CRH Stock Down 1.7 %

CRH opened at $97.36 on Tuesday. The company has a 50 day moving average of $97.23 and a two-hundred day moving average of $92.31. CRH plc has a 52-week low of $71.18 and a 52-week high of $104.23. The company has a market cap of $66.13 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.08 and a beta of 1.30.

CRH Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 22nd were issued a $0.262 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio is currently 21.00%.

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.