Empowered Funds LLC Boosts Stake in CRH plc (NYSE:CRH)

Empowered Funds LLC lifted its holdings in CRH plc (NYSE:CRH) by 397.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,932 shares of the construction company’s stock after buying an additional 42,302 shares during the period. Empowered Funds LLC’s holdings in CRH were worth $4,909,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of CRH by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 24,510 shares of the construction company’s stock worth $2,273,000 after purchasing an additional 1,274 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of CRH by 84.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 28,158 shares of the construction company’s stock valued at $2,611,000 after acquiring an additional 12,918 shares during the last quarter. ING Groep NV purchased a new position in CRH in the third quarter worth $9,274,000. Tokio Marine Asset Management Co. Ltd. grew its position in CRH by 1.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,879 shares of the construction company’s stock valued at $1,844,000 after acquiring an additional 188 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in shares of CRH by 14.3% during the third quarter. Zions Bancorporation N.A. now owns 6,809 shares of the construction company’s stock valued at $631,000 after buying an additional 852 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Trading Down 1.6 %

Shares of CRH stock opened at $98.29 on Monday. CRH plc has a 12 month low of $58.57 and a 12 month high of $102.51. The stock has a market cap of $66.76 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.43 and a beta of 1.29. The company’s fifty day moving average price is $92.77 and its 200-day moving average price is $84.97.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be paid 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 32.00%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRH. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. Morgan Stanley increased their target price on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Truist Financial boosted their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. HSBC began coverage on CRH in a report on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective for the company. Finally, Barclays started coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price on the stock. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $105.55.

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.