UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 4,274,336 Shares of CRH plc (NYSE:CRH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CRH plc (NYSE:CRH) by 515.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,103,194 shares of the construction company’s stock after buying an additional 4,274,336 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CRH were worth $473,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its position in CRH by 33.4% during the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after acquiring an additional 9,055,354 shares during the last quarter. Legal & General Group Plc increased its stake in shares of CRH by 36,503.4% in the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after purchasing an additional 4,825,752 shares during the period. American Century Companies Inc. increased its stake in shares of CRH by 103.9% in the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after purchasing an additional 2,365,589 shares during the period. LGT Group Foundation lifted its position in shares of CRH by 8,189.3% during the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after purchasing an additional 1,580,527 shares during the last quarter. Finally, Baupost Group LLC MA boosted its stake in CRH by 56.0% during the 2nd quarter. Baupost Group LLC MA now owns 4,226,602 shares of the construction company’s stock valued at $316,911,000 after purchasing an additional 1,517,059 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays began coverage on CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target on the stock. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Truist Financial increased their price target on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. DA Davidson boosted 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. Finally, JPMorgan Chase & Co. increased their target price on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $106.42.

CRH Price Performance

Shares of CRH stock opened at $101.94 on Friday. The stock has a market cap of $69.24 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. CRH plc has a one year low of $61.51 and a one year high of $104.19. The stock has a fifty day moving average price of $95.18 and a 200 day moving average price of $86.18.

CRH Cuts Dividend

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