Zurcher Kantonalbank Zurich Cantonalbank Acquires 68,574 Shares of CRH plc (NYSE:CRH)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CRH plc (NYSE:CRH) by 18.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 445,861 shares of the construction company’s stock after purchasing an additional 68,574 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CRH were worth $40,775,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust lifted its position in CRH by 9.5% during the third quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock valued at $132,000 after acquiring an additional 123 shares during the last quarter. UMB Bank n.a. lifted its position in CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. CVA Family Office LLC lifted its position in 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 last quarter. Lindbrook Capital LLC lifted its position in CRH by 2.9% during the third quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock valued at $447,000 after acquiring an additional 135 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in CRH by 70.7% during the third 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 last quarter. 62.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CRH. HSBC began coverage on shares of CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 target price for the company. DA Davidson increased their target price 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 raised their price target on shares of CRH from $95.00 to $104.00 and gave the stock 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 report on Monday, November 11th. Finally, Barclays began coverage on shares of CRH in a report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $106.42.

CRH Price Performance

Shares of CRH stock opened at $101.94 on Friday. The firm has a fifty day moving average price of $95.18 and a 200 day moving average price of $86.18. CRH plc has a 1 year low of $61.51 and a 1 year high of $104.19. The stock has a market cap of $69.24 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29.

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. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio (DPR) is presently 37.20%.

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.