Soros Fund Management LLC Has $54.45 Million Stock Position in CRH plc (NYSE:CRH)

Soros Fund Management LLC cut its stake in CRH plc (NYSE:CRH - Free Report) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 587,074 shares of the construction company's stock after selling 14,576 shares during the quarter. CRH makes up 0.8% of Soros Fund Management LLC's portfolio, making the stock its 26th biggest holding. Soros Fund Management LLC owned 0.09% of CRH worth $54,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers raised its holdings in CRH by 286.4% in the 1st quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company's stock worth $4,671,000 after acquiring an additional 40,135 shares during the period. Cetera Advisors LLC bought a new stake in shares of CRH in the 1st quarter worth about $1,277,000. Csenge Advisory Group increased its position in shares of CRH by 5.8% during the 2nd quarter. Csenge Advisory Group now owns 4,790 shares of the construction company's stock worth $359,000 after purchasing an additional 262 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in CRH in the second quarter valued at about $5,178,000. Finally, Sax Wealth Advisors LLC bought a new stake in CRH during the second quarter worth about $248,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Price Performance

Shares of CRH stock traded up $0.23 on Friday, hitting $103.07. The company had a trading volume of 1,207,435 shares, compared to its average volume of 4,799,252. CRH plc has a twelve month low of $62.80 and a twelve month high of $104.23. The stock has a 50-day moving average of $96.22 and a 200-day moving average of $86.87. The firm has a market capitalization of $70.00 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.29 and a beta of 1.29.

CRH Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders 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 dividend yield of 1.4%. CRH's dividend payout ratio is currently 37.20%.

Analysts Set New Price Targets

Several research analysts have recently commented on CRH shares. DA Davidson boosted their target price on CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on CRH from $114.00 to $116.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. StockNews.com raised CRH from a "hold" rating to a "buy" rating in a report on Monday, November 11th. HSBC assumed coverage on shares of CRH in a report on Monday, November 11th. They set a "buy" rating and a $116.00 price objective on the stock. Finally, Truist Financial boosted their target price on CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. One 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 MarketBeat, the company presently has an average 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.