Lingotto Investment Management LLP Makes New $5.52 Million Investment in CRH plc (NYSE:CRH)

Lingotto Investment Management LLP acquired a new stake in CRH plc (NYSE:CRH) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 59,613 shares of the construction company’s stock, valued at approximately $5,515,000.

A number of other hedge funds also recently made changes to their positions in CRH. Deseret Mutual Benefit Administrators acquired a new stake in CRH during the 3rd quarter valued at $25,000. Heck Capital Advisors LLC purchased a new position in CRH in the 4th quarter valued at about $32,000. Meeder Asset Management Inc. acquired a new stake in shares of CRH during the third quarter valued at about $35,000. Baillie Gifford & Co. grew its stake 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 in the last quarter. Finally, Spire Wealth Management purchased a new stake in shares of CRH during the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

CRH stock opened at $100.34 on Wednesday. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97. The firm’s 50-day moving average is $98.08 and its 200-day moving average is $95.02. The company has a market cap of $68.15 billion, a P/E ratio of 20.07, a PEG ratio of 1.15 and a beta of 1.30.

Wall Street Analysts Forecast Growth

CRH has been the subject of a number of analyst reports. Truist Financial increased their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. HSBC started coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price target for the company. Citigroup reduced their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.75.

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.