abrdn plc Boosts Position in CRH plc (NYSE:CRH)

abrdn plc increased its stake in CRH plc (NYSE:CRH) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,465,027 shares of the construction company’s stock after buying an additional 86,885 shares during the period. abrdn plc owned 0.21% of CRH worth $134,233,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Grove Bank & Trust increased its stake in CRH by 9.5% in the 3rd quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock worth $132,000 after buying an additional 123 shares during the period. UMB Bank n.a. increased its position in CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after purchasing an additional 125 shares during the period. CVA Family Office LLC increased its position in CRH by 2.1% during the 3rd quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock valued at $567,000 after purchasing an additional 128 shares during the period. Gallacher Capital Management LLC increased its position in CRH by 3.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 5,997 shares of the construction company’s stock valued at $450,000 after purchasing an additional 188 shares during the period. Finally, V Square Quantitative Management LLC increased its position in CRH by 2.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 7,875 shares of the construction company’s stock valued at $730,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Trading Up 2.2 %

Shares of NYSE CRH opened at $94.39 on Tuesday. CRH plc has a 12 month low of $53.05 and a 12 month high of $94.52. The company has a 50 day simple moving average of $89.87 and a two-hundred day simple moving average of $83.02. The stock has a market cap of $64.82 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.30 and a beta of 1.30.

CRH (NYSE:CRH) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting the consensus estimate of $1.85. The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. Analysts forecast that CRH plc will post 5.44 EPS for the current year.

CRH Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.35 per share. This represents a dividend yield of 1.7%. The ex-dividend date was Friday, August 23rd. CRH’s dividend payout ratio (DPR) is 26.46%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRH. Barclays began coverage on shares of CRH in a research report on Tuesday. They set an “overweight” rating and a $110.00 target price on the stock. StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Citigroup cut their target price on shares of CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Truist Financial raised their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, DA Davidson raised their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.00.

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.