Convergence Investment Partners LLC Takes $882,000 Position in CRH plc (NYSE:CRH)

Convergence Investment Partners LLC purchased a new stake in shares of CRH plc (NYSE:CRH) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 9,531 shares of the construction company’s stock, valued at approximately $882,000.

Other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators purchased a new stake in shares of CRH during the third quarter worth about $25,000. Heck Capital Advisors LLC purchased a new stake in CRH in the 4th quarter worth approximately $32,000. Meeder Asset Management Inc. purchased a new stake in CRH in the 3rd quarter worth approximately $35,000. 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 buying an additional 162 shares during the period. Finally, Spire Wealth Management purchased a new stake in CRH in the fourth quarter worth $57,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Trading Down 4.1 %

Shares of NYSE:CRH opened at $106.00 on Thursday. The stock has a fifty day simple moving average of $97.85 and a two-hundred day simple moving average of $94.30. The stock has a market capitalization of $71.99 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.21 and a beta of 1.30. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97.

Analyst Upgrades and Downgrades

CRH has been the subject of a number of research analyst reports. HSBC started coverage on CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price target for the company. Barclays assumed coverage on shares of CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. DA Davidson raised their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their target price on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Two analysts have 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.75.

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.