Makena Capital Management LLC Sells 41,924 Shares of CRH plc (NYSE:CRH)

Makena Capital Management LLC cut its holdings in shares of CRH plc (NYSE:CRH) by 28.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 106,482 shares of the construction company’s stock after selling 41,924 shares during the quarter. CRH accounts for approximately 2.4% of Makena Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. Makena Capital Management LLC’s holdings in CRH were worth $9,875,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CRH. Cetera Advisors LLC bought a new position in CRH during the first quarter worth about $1,277,000. LGT Group Foundation boosted its holdings in CRH by 8,189.3% in the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after buying an additional 1,580,527 shares during the period. Assenagon Asset Management S.A. grew its stake in CRH by 35.7% in 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 in the last quarter. Cetera Investment Advisers lifted its position in shares of CRH by 286.4% during the first 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 in the last quarter. Finally, M&G Plc bought a new position in shares of CRH in the second quarter worth $2,745,000. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRH. Morgan Stanley lifted their target price on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. HSBC assumed coverage on shares of CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price target for the company. Finally, DA Davidson increased their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $106.42.

CRH Trading Up 0.5 %

CRH stock opened at $100.24 on Thursday. The firm’s 50-day moving average price is $93.66 and its two-hundred day moving average price is $85.35. The stock has a market capitalization of $68.08 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.46 and a beta of 1.29. CRH plc has a 12-month low of $59.98 and a 12-month high of $102.51.

CRH Cuts Dividend

The business also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be given a dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s dividend payout ratio is currently 32.00%.

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.