Connor Clark & Lunn Investment Management Ltd. Invests $405,000 in CRH plc (NYSE:CRH)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in CRH plc (NYSE:CRH) in the third quarter, Holdings Channel reports. The firm acquired 4,365 shares of the construction company’s stock, valued at approximately $405,000.

Several other large investors have also recently added to or reduced their stakes in CRH. B. Riley Wealth Advisors Inc. increased its position in shares of CRH by 29.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,361 shares of the construction company’s stock worth $807,000 after acquiring an additional 2,115 shares during the period. Atria Investments Inc increased its holdings in CRH by 161.7% during the 1st quarter. Atria Investments Inc now owns 56,665 shares of the construction company’s stock worth $4,888,000 after purchasing an additional 35,009 shares during the period. Cetera Investment Advisers raised its position in CRH by 286.4% in the 1st quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company’s stock valued at $4,671,000 after purchasing an additional 40,135 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of CRH in the 1st quarter valued at about $1,277,000. Finally, Transcend Capital Advisors LLC acquired a new position in shares of CRH during the second quarter worth about $272,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Morgan Stanley lifted their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Truist Financial lifted their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Hsbc Global Res upgraded CRH to a “strong-buy” rating in a report on Monday, November 11th. 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $106.42.

CRH Stock Up 0.4 %

NYSE:CRH opened at $102.38 on Friday. The company has a market capitalization of $69.54 billion, a PE ratio of 20.48, a P/E/G ratio of 1.29 and a beta of 1.29. CRH plc has a 52-week low of $62.45 and a 52-week high of $104.19. The stock’s 50 day moving average price is $95.37 and its 200 day moving average price is $86.32.

CRH Cuts Dividend

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