Nordea Investment Management AB Grows Stake in CRH plc (NYSE:CRH)

Nordea Investment Management AB raised its holdings in shares of CRH plc (NYSE:CRH - Free Report) by 48.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,484,746 shares of the construction company's stock after acquiring an additional 808,061 shares during the quarter. Nordea Investment Management AB owned approximately 0.37% of CRH worth $231,206,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GHP Investment Advisors Inc. increased its holdings in CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company's stock valued at $25,000 after acquiring an additional 259 shares during the last quarter. Deseret Mutual Benefit Administrators purchased a new position in shares of CRH during the third quarter valued at about $25,000. UMB Bank n.a. increased its holdings in shares of CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company's stock worth $28,000 after purchasing an additional 125 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of CRH in the third quarter worth about $35,000. Finally, Baillie Gifford & Co. boosted its stake in 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 buying an additional 162 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CRH shares. Truist Financial upped their price objective on CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of CRH from $114.00 to $116.00 and gave the company an "overweight" rating in a research note on Wednesday, November 20th. Hsbc Global Res raised shares of CRH to a "strong-buy" rating in a research note on Monday, November 11th. HSBC began coverage on shares of CRH in a research report on Monday, November 11th. They set a "buy" rating and a $116.00 target price on the stock. Finally, Citigroup dropped their price target on CRH from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday. One 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 company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $107.75.

CRH Trading Down 1.5 %

Shares of NYSE CRH traded down $1.38 during midday trading on Tuesday, hitting $92.23. The company's stock had a trading volume of 3,018,307 shares, compared to its average volume of 2,849,502. CRH plc has a 12-month low of $66.42 and a 12-month high of $104.23. The firm has a market cap of $62.64 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 1.25 and a beta of 1.31. The business's 50 day moving average is $97.97 and its two-hundred day moving average is $89.63.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which was paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd were paid a $0.262 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a yield of 1.4%. CRH's payout ratio is 21.00%.

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.