CRH plc (NYSE:CRH) is Payden & Rygel’s 6th Largest Position

Payden & Rygel raised its stake in CRH plc (NYSE:CRH) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 321,400 shares of the construction company’s stock after buying an additional 2,600 shares during the quarter. CRH comprises 2.3% of Payden & Rygel’s investment portfolio, making the stock its 6th largest position. Payden & Rygel’s holdings in CRH were worth $29,807,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Grove Bank & Trust raised its stake in shares of CRH by 9.5% in the third quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock worth $132,000 after purchasing an additional 123 shares during the last quarter. UMB Bank n.a. increased its position in shares of CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. CVA Family Office LLC increased its position in shares of CRH by 2.1% during the third quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock valued at $567,000 after acquiring an additional 128 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of CRH by 2.9% during the third quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock valued at $447,000 after acquiring an additional 135 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after acquiring an additional 162 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Stock Down 0.1 %

NYSE:CRH traded down $0.05 during trading hours on Wednesday, hitting $99.74. 432,579 shares of the company’s stock traded hands, compared to its average volume of 4,855,600. The firm has a market cap of $67.74 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.44 and a beta of 1.29. CRH plc has a 52 week low of $59.98 and a 52 week high of $102.51. The business’s fifty day simple moving average is $93.36 and its two-hundred day simple moving average is $85.25.

CRH Cuts Dividend

The company 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. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.4%. CRH’s payout ratio is 37.20%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays assumed coverage on CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target for the company. Morgan Stanley increased their price target on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. HSBC began coverage on CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price target 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. Finally, Truist Financial increased their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CRH presently has a consensus rating of “Buy” and an average price target of $106.42.

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.