Intech Investment Management LLC Lowers Stake in CRH plc (NYSE:CRH)

Intech Investment Management LLC lowered its stake in shares of CRH plc (NYSE:CRH) by 34.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,988 shares of the construction company’s stock after selling 39,143 shares during the period. Intech Investment Management LLC’s holdings in CRH were worth $7,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Payden & Rygel lifted its holdings in CRH by 0.8% during the third quarter. Payden & Rygel now owns 321,400 shares of the construction company’s stock worth $29,807,000 after buying an additional 2,600 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in CRH by 2.4% during the third quarter. EverSource Wealth Advisors LLC now owns 114,657 shares of the construction company’s stock worth $10,633,000 after buying an additional 2,685 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in CRH during the third quarter worth $405,000. PCJ Investment Counsel Ltd. purchased a new stake in CRH during the third quarter worth $24,854,000. Finally, West Family Investments Inc. purchased a new stake in CRH during the third quarter worth $211,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CRH shares. HSBC started coverage on CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 price objective for the company. DA Davidson increased their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their price objective on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report 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 given a strong buy rating to the company’s stock. According to MarketBeat, CRH presently has a consensus rating of “Buy” and a consensus target price of $106.42.

CRH Price Performance

Shares of CRH stock opened at $100.53 on Friday. The firm has a market capitalization of $68.28 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.29. The business has a fifty day moving average of $93.93 and a 200 day moving average of $85.46. CRH plc has a 1 year low of $60.83 and a 1 year high of $102.51.

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 given a dividend of $0.262 per share. This represents a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 22nd. CRH’s dividend payout ratio is currently 32.00%.

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.