CRH plc (NYSE:CRH) Stock Position Reduced by Swiss National Bank

Swiss National Bank trimmed its position in CRH plc (NYSE:CRH) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,563,701 shares of the construction company’s stock after selling 148,592 shares during the quarter. Swiss National Bank owned approximately 0.36% of CRH worth $176,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. acquired a new position in CRH in the third quarter valued at approximately $1,484,901,000. Barclays PLC bought a new stake in shares of CRH in the 3rd quarter worth approximately $941,562,000. Invesco Ltd. boosted its position in CRH by 1,136.3% during the 3rd quarter. Invesco Ltd. now owns 8,587,277 shares of the construction company’s stock valued at $469,982,000 after purchasing an additional 7,892,691 shares during the period. Massachusetts Financial Services Co. MA bought a new position in CRH during the 3rd quarter worth $418,653,000. Finally, Wellington Management Group LLP acquired a new stake in CRH in the third quarter worth $416,982,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRH has been the subject of several recent research reports. Truist Financial upped their price target on shares of CRH from $81.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. DA Davidson started coverage on CRH in a research note on Friday, January 19th. They issued a “buy” rating and a $82.00 price target for the company. Jefferies Financial Group lifted their price objective on shares of CRH from $89.70 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Vertical Research began coverage on shares of CRH in a research note on Friday, March 22nd. They set a “buy” rating and a $105.00 target price on the stock. Finally, StockNews.com raised CRH from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.31.

CRH Stock Performance

Shares of CRH stock traded up $0.89 on Friday, reaching $80.44. 2,531,673 shares of the company’s stock traded hands, compared to its average volume of 3,551,679. CRH plc has a 12-month low of $47.14 and a 12-month high of $88.00. The business’s 50 day moving average price is $82.27 and its two-hundred day moving average price is $71.33.

CRH (NYSE:CRH) last released its earnings results on Thursday, February 29th. The construction company reported $1.29 earnings per share for the quarter. The business had revenue of $8.69 billion for the quarter. On average, sell-side analysts predict that CRH plc will post 5.36 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently disclosed a Variable dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 15th were given a dividend of $0.262 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a yield of 2%.

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.