Bridgewater Associates LP Buys 18,502 Shares of CRH plc (NYSE:CRH)

Bridgewater Associates LP boosted its stake in shares of CRH plc (NYSE:CRH) by 325.8% during the third quarter, Holdings Channel.com reports. The fund owned 24,181 shares of the construction company’s stock after acquiring 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 hedge funds and other institutional investors have also recently added to or reduced their stakes in CRH. Deseret Mutual Benefit Administrators bought a new position in shares of CRH in the third quarter worth $25,000. UMB Bank n.a. grew its stake in CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after buying an additional 125 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after buying an additional 259 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of CRH in the 3rd quarter valued at approximately $35,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after acquiring an additional 162 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. HSBC began coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective on the stock. Morgan Stanley upped their price objective on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Truist Financial lifted their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barclays began coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price for the company. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $106.42.

CRH Price Performance

NYSE:CRH opened at $102.27 on Friday. CRH plc has a one year low of $62.45 and a one year high of $104.19. The firm’s 50 day simple moving average is $95.37 and its 200 day simple moving average is $86.35. The company has a market cap of $69.46 billion, a PE ratio of 20.45, a P/E/G ratio of 1.29 and a beta of 1.29.

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 paid a $0.262 dividend. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio 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.