CRH plc (NYSE:CRH) Holdings Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in CRH plc (NYSE:CRH) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,302 shares of the construction company’s stock after selling 320 shares during the period. PNC Financial Services Group Inc.’s holdings in CRH were worth $955,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc boosted its position 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 valued at $361,278,000 after purchasing an additional 4,825,752 shares during the period. American Century Companies Inc. lifted its stake in CRH by 103.9% in the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock valued at $348,112,000 after buying an additional 2,365,589 shares during the last quarter. LGT Group Foundation boosted its holdings 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 during the period. Baupost Group LLC MA grew its position in shares of CRH by 56.0% during the second quarter. Baupost Group LLC MA now owns 4,226,602 shares of the construction company’s stock worth $316,911,000 after acquiring an additional 1,517,059 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of CRH by 173.0% in the 2nd quarter. Bank of Montreal Can now owns 2,128,963 shares of the construction company’s stock worth $160,183,000 after acquiring an additional 1,349,023 shares during the period. 62.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on CRH. Morgan Stanley upped their target price 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. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research report on Monday, November 11th. 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 report on Wednesday, November 20th. Truist Financial increased their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, HSBC assumed coverage on CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 price target on the stock. One investment 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. Based on data from MarketBeat, CRH currently has a consensus rating of “Buy” and an average price target of $106.42.

CRH Price Performance

Shares of CRH opened at $101.94 on Friday. CRH plc has a 12-month low of $61.51 and a 12-month high of $104.19. The stock has a market capitalization of $69.24 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.30 and a beta of 1.29. The firm’s 50 day moving average is $95.18 and its 200-day moving average is $86.18.

CRH Cuts Dividend

The business also recently declared 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. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio is currently 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.