Swiss National Bank Trims Stake in CRH plc (NYSE:CRH)

Swiss National Bank lowered its position in shares of CRH plc (NYSE:CRH) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,039,560 shares of the construction company’s stock after selling 29,166 shares during the quarter. Swiss National Bank’s holdings in CRH were worth $189,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators bought a new stake in CRH during the third quarter valued at about $25,000. UMB Bank n.a. raised its stake in CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after purchasing an additional 125 shares during the period. GHP Investment Advisors Inc. raised its stake in CRH by 336.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after purchasing an additional 259 shares during the period. Baillie Gifford & Co. lifted its holdings in CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in CRH during the 2nd quarter valued at approximately $43,000. 62.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRH has been the topic of several research analyst reports. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. DA Davidson lifted 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. Barclays started coverage on CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target for the company. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Truist Financial boosted their price target 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. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $105.55.

CRH Stock Performance

Shares of NYSE:CRH opened at $98.29 on Monday. The firm’s 50 day simple moving average is $92.77 and its 200-day simple moving average is $84.97. CRH plc has a one year low of $58.57 and a one year high of $102.51. The firm has a market cap of $66.76 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.43 and a beta of 1.29.

CRH Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.262 per share. 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 presently 32.00%.

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.