Charles Schwab Investment Management Inc. Acquires 446,363 Shares of CRH plc (NYSE:CRH)

Charles Schwab Investment Management Inc. boosted its stake in shares of CRH plc (NYSE:CRH) by 25.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,217,655 shares of the construction company’s stock after acquiring an additional 446,363 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.32% of CRH worth $205,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in shares of CRH by 9.5% in the third quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock valued at $132,000 after purchasing an additional 123 shares in the last quarter. UMB Bank n.a. raised its position in shares of CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after acquiring an additional 125 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of CRH by 2.1% during the third quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock valued at $567,000 after acquiring an additional 128 shares during the period. Lindbrook Capital LLC increased its position in CRH by 2.9% in the third quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock worth $447,000 after purchasing an additional 135 shares during the period. Finally, Baillie Gifford & Co. raised its holdings in CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Performance

Shares of NYSE CRH opened at $101.40 on Friday. The stock has a market capitalization of $68.87 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.27 and a beta of 1.29. CRH plc has a 52 week low of $61.45 and a 52 week high of $102.51. The stock has a 50 day moving average price of $94.21 and a 200 day moving average price of $85.63.

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 dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s payout ratio is presently 32.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays initiated coverage on CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target on the stock. DA Davidson increased their price target on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Morgan Stanley lifted their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. HSBC started coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 target price for the company. Finally, Truist Financial boosted their price target on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.