Oppenheimer Asset Management Inc. Grows Position in CRH plc (NYSE:CRH)

Oppenheimer Asset Management Inc. grew its holdings in CRH plc (NYSE:CRH) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,012 shares of the construction company’s stock after acquiring an additional 8,426 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CRH were worth $22,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Community Bank & Trust Waco Texas bought a new stake in CRH during the third quarter worth approximately $229,000. Victory Capital Management Inc. lifted its holdings in shares of CRH by 6,859.4% during the 3rd quarter. Victory Capital Management Inc. now owns 191,105 shares of the construction company’s stock valued at $17,723,000 after purchasing an additional 188,359 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of CRH by 10.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 33,787 shares of the construction company’s stock valued at $3,133,000 after purchasing an additional 3,261 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of CRH by 8.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,448,890 shares of the construction company’s stock valued at $134,370,000 after purchasing an additional 107,266 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after acquiring an additional 162 shares during the period. 62.50% of the stock is owned by institutional investors.

CRH Stock Down 0.2 %

Shares of CRH traded down $0.24 during midday trading on Wednesday, hitting $99.91. The company had a trading volume of 386,126 shares, compared to its average volume of 4,879,967. The company’s 50 day moving average price is $91.92 and its 200 day moving average price is $84.52. The stock has a market cap of $68.20 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.48 and a beta of 1.29. CRH plc has a 52 week low of $58.57 and a 52 week high of $102.51.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Investors 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 32.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. HSBC began coverage on CRH in a research note on Monday. They issued a “buy” rating and a $116.00 price target for the company. Truist Financial lifted 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. Barclays initiated coverage on CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price on the stock. DA Davidson upped their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Finally, Morgan Stanley boosted their target price on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $105.55.

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.