Gulf International Bank UK Ltd Decreases Holdings in CRH plc (NYSE:CRH)

Gulf International Bank UK Ltd cut its stake in CRH plc (NYSE:CRH) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,494 shares of the construction company’s stock after selling 591 shares during the quarter. Gulf International Bank UK Ltd’s holdings in CRH were worth $4,856,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC raised its holdings in shares of CRH by 33.4% during the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock valued at $3,341,258,000 after buying an additional 9,055,354 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in CRH by 515.7% in 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 acquiring an additional 4,274,336 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of CRH by 8.7% during the third quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock valued at $1,329,796,000 after purchasing an additional 1,148,708 shares during the period. Bank of New York Mellon Corp lifted its position in shares of CRH by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock worth $796,546,000 after purchasing an additional 826,758 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of CRH by 48.2% during the fourth quarter. Nordea Investment Management AB now owns 2,484,746 shares of the construction company’s stock worth $231,206,000 after purchasing an additional 808,061 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Price Performance

CRH stock opened at $101.68 on Friday. The firm has a market cap of $69.06 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.15 and a beta of 1.30. CRH plc has a 1-year low of $71.18 and a 1-year high of $110.97. The firm has a fifty day moving average price of $98.42 and a two-hundred day moving average price of $95.12.

CRH Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from CRH’s previous dividend of $0.23. CRH’s dividend payout ratio is currently 21.00%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Morgan Stanley boosted their price target on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Truist Financial upped 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. One 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 stock. According to data from MarketBeat, CRH presently has an average rating of “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.