Pathstone Holdings LLC Trims Stock Position in CRH plc (NYSE:CRH)

Pathstone Holdings LLC decreased its stake in CRH plc (NYSE:CRH) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,075 shares of the construction company’s stock after selling 123 shares during the period. Pathstone Holdings LLC’s holdings in CRH were worth $3,253,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CRH. Greenhaven Associates Inc. boosted its stake in CRH by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 11,155,273 shares of the construction company’s stock valued at $1,034,540,000 after acquiring an additional 35,209 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of CRH by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock valued at $646,188,000 after purchasing an additional 431,172 shares during the period. Legal & General Group Plc grew its stake in CRH by 36,503.4% during the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after buying an additional 4,825,752 shares during the last quarter. American Century Companies Inc. increased its position in CRH by 103.9% during 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, Assenagon Asset Management S.A. lifted its stake in 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 buying an additional 1,114,177 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Price Performance

CRH opened at $101.40 on Monday. CRH plc has a 12 month low of $61.45 and a 12 month high of $102.51. The stock has a market capitalization of $68.87 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.27 and a beta of 1.29. The business has a 50 day simple moving average of $94.21 and a 200-day simple moving average of $85.67.

CRH Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRH. Truist Financial raised their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. Morgan Stanley upped their target price on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, DA Davidson upped their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $106.42.

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.