CRH plc (NYSE:CRH) Holdings Lowered by 140 Summer Partners LP

140 Summer Partners LP decreased its stake in shares of CRH plc (NYSE:CRH) by 3.2% in the third quarter, Holdings Channel.com reports. The fund owned 585,672 shares of the construction company’s stock after selling 19,200 shares during the period. CRH comprises about 5.9% of 140 Summer Partners LP’s holdings, making the stock its 9th biggest position. 140 Summer Partners LP’s holdings in CRH were worth $54,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CRH. Cetera Advisors LLC bought a new position in shares of CRH during the 1st quarter valued at approximately $1,277,000. LGT Group Foundation raised its stake in shares of CRH by 8,189.3% during the second 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 in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of CRH by 35.7% in the second quarter. Assenagon Asset Management S.A. now owns 4,238,173 shares of the construction company’s stock valued at $317,778,000 after purchasing an additional 1,114,177 shares during the period. Cetera Investment Advisers grew its stake in CRH by 286.4% in the first quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company’s stock worth $4,671,000 after purchasing an additional 40,135 shares in the last quarter. Finally, M&G Plc purchased a new position in CRH during the 2nd quarter worth $2,745,000. Institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CRH shares. 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 increased their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley boosted their price target on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. HSBC initiated coverage on shares of CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 price objective on the stock. Finally, DA Davidson upped 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. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CRH currently has an average rating of “Buy” and a consensus target price of $106.42.

CRH Price Performance

Shares of CRH stock opened at $101.93 on Thursday. The stock’s fifty day moving average price is $95.00 and its 200 day moving average price is $86.07. CRH plc has a 1-year low of $61.51 and a 1-year high of $104.19. The company has a market cap of $69.23 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29.

CRH Cuts Dividend

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