Kornitzer Capital Management Inc. KS Sells 54,050 Shares of CRH plc (NYSE:CRH)

Kornitzer Capital Management Inc. KS lessened its position in CRH plc (NYSE:CRH) by 22.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 185,306 shares of the construction company’s stock after selling 54,050 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in CRH were worth $17,145,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators bought a new stake in CRH during the 3rd quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new position in CRH during the 4th quarter worth $32,000. Meeder Asset Management Inc. bought a new stake in shares of CRH in the 3rd quarter worth $35,000. Baillie Gifford & Co. raised its holdings in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares during the last quarter. Finally, Spire Wealth Management bought a new position in shares of CRH during the fourth quarter valued at about $57,000. Institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRH. Truist Financial upped their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. HSBC assumed coverage on CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price target for the company. 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 report on Wednesday, November 20th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Barclays assumed coverage on shares of CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CRH has a consensus rating of “Buy” and an average price target of $107.75.

CRH Trading Up 1.7 %

CRH stock opened at $108.31 on Tuesday. The firm has a market capitalization of $73.57 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 1.18 and a beta of 1.30. The firm has a 50 day simple moving average of $97.30 and a 200 day simple moving average of $93.81. CRH plc has a 1-year low of $71.18 and a 1-year high of $108.39.

About CRH

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.