Conning Inc. Buys New Position in CRH plc (NYSE:CRH)

Conning Inc. bought a new position in shares of CRH plc (NYSE:CRH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,100 shares of the construction company's stock, valued at approximately $657,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of CRH by 7.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company's stock worth $144,605,000 after buying an additional 114,072 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of CRH by 22.1% during the fourth quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company's stock worth $3,012,000 after buying an additional 5,889 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of CRH by 31.8% during the fourth quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company's stock worth $2,151,000 after buying an additional 5,610 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of CRH by 48.2% during the fourth quarter. Nordea Investment Management AB now owns 2,484,746 shares of the construction company's stock worth $231,206,000 after buying an additional 808,061 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of CRH by 168.7% during the third quarter. Tidal Investments LLC now owns 22,089 shares of the construction company's stock worth $2,049,000 after buying an additional 13,868 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CRH. StockNews.com upgraded CRH from a "hold" rating to a "buy" rating in a report on Monday, November 11th. Morgan Stanley upped their target price on CRH from $95.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Truist Financial increased their price objective on CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Citigroup dropped their price objective on CRH from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Hsbc Global Res upgraded CRH to a "strong-buy" rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $107.75.

CRH Stock Performance

CRH traded up $1.35 during midday trading on Wednesday, reaching $104.33. 8,595,805 shares of the company were exchanged, compared to its average volume of 3,686,615. CRH plc has a one year low of $71.18 and a one year high of $105.58. The stock has a market capitalization of $70.86 billion, a P/E ratio of 20.87, a PEG ratio of 1.18 and a beta of 1.30. The stock's 50-day simple moving average is $97.10 and its 200 day simple moving average is $93.34.

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.