Point72 Asset Management L.P. Increases Holdings in CRH plc (NYSE:CRH)

Point72 Asset Management L.P. boosted its holdings in CRH plc (NYSE:CRH - Free Report) by 48.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 409,486 shares of the construction company's stock after purchasing an additional 133,113 shares during the period. Point72 Asset Management L.P. owned about 0.06% of CRH worth $37,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Advisors LLC purchased a new position in CRH in the first quarter worth $1,277,000. 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 valued at $119,955,000 after buying an additional 1,580,527 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of CRH by 35.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,238,173 shares of the construction company's stock valued at $317,778,000 after buying an additional 1,114,177 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of CRH by 286.4% during the 1st quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company's stock valued at $4,671,000 after buying an additional 40,135 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of CRH during the 2nd quarter valued at $2,745,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CRH shares. Morgan Stanley upped 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. Truist Financial upped their price target on CRH from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, November 8th. DA Davidson upped their price target on CRH from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, November 11th. StockNews.com upgraded CRH from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their target price on CRH from $114.00 to $116.00 and gave the stock 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $106.42.

CRH Price Performance

Shares of NYSE:CRH traded down $0.54 on Thursday, hitting $102.83. The company's stock had a trading volume of 3,372,518 shares, compared to its average volume of 4,814,847. The company has a 50-day simple moving average of $96.22 and a 200 day simple moving average of $86.87. CRH plc has a 1 year low of $62.80 and a 1 year high of $104.23. The company has a market capitalization of $69.84 billion, a PE ratio of 20.57, a PEG ratio of 1.29 and a beta of 1.29.

CRH Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be issued a $0.262 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH's payout ratio is currently 37.20%.

About CRH

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.