BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $10.63 Million Stock Holdings in CRH plc (NYSE:CRH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in CRH plc (NYSE:CRH) by 12.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 114,637 shares of the construction company’s stock after selling 16,965 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CRH were worth $10,631,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Maverick Capital Ltd. acquired a new stake in shares of CRH in the third quarter valued at $1,372,000. Point72 Europe London LLP increased its position in CRH by 7.4% in the third quarter. Point72 Europe London LLP now owns 519,718 shares of the construction company’s stock worth $48,199,000 after purchasing an additional 35,863 shares during the period. Fred Alger Management LLC acquired a new stake in CRH in the third quarter worth about $610,000. Captrust Financial Advisors increased its position in CRH by 15.9% in the third quarter. Captrust Financial Advisors now owns 7,958 shares of the construction company’s stock worth $738,000 after purchasing an additional 1,091 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in CRH in the third quarter worth about $1,224,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Price Performance

NYSE:CRH opened at $102.27 on Monday. CRH plc has a fifty-two week low of $62.45 and a fifty-two week high of $104.19. The stock has a market capitalization of $69.46 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. The business’s 50-day simple moving average is $95.37 and its 200-day simple moving average is $86.35.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s dividend payout ratio (DPR) is presently 37.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. HSBC assumed coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective for the company. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Morgan Stanley lifted 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 raised their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $106.42.

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.