Horizons Wealth Management Acquires New Position in CRH plc (NYSE:CRH)

Horizons Wealth Management bought a new position in CRH plc (NYSE:CRH) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,000 shares of the construction company’s stock, valued at approximately $463,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of CRH by 33.4% in the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after acquiring an additional 9,055,354 shares during the last quarter. Legal & General Group Plc boosted its position in CRH by 36,503.4% during the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after buying an additional 4,825,752 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of CRH by 515.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock valued at $473,270,000 after buying an additional 4,274,336 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of CRH by 103.9% in the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after buying an additional 2,365,589 shares during the period. Finally, LGT Group Foundation lifted its stake in shares of CRH by 8,189.3% in the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock valued at $119,955,000 after acquiring an additional 1,580,527 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

NYSE CRH opened at $93.49 on Tuesday. The stock has a 50-day moving average of $98.02 and a 200 day moving average of $89.52. CRH plc has a one year low of $66.42 and a one year high of $104.23. The company has a market capitalization of $63.50 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.25 and a beta of 1.31.

CRH Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. DA Davidson increased their price target on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Truist Financial upped their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. HSBC began coverage on shares of CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price on the stock. Finally, Barclays started 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 investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CRH currently has a consensus rating of “Buy” and an average target price of $107.75.

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.