Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in CRH plc (NYSE:CRH)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in CRH plc (NYSE:CRH) by 18.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 445,861 shares of the construction company’s stock after purchasing an additional 68,574 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of CRH worth $40,775,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Deseret Mutual Benefit Administrators purchased a new stake in CRH in the 3rd quarter worth $25,000. UMB Bank n.a. raised its position in shares of 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 buying an additional 125 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of CRH by 336.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after buying an additional 259 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of CRH during the 3rd quarter valued at about $35,000. Finally, Baillie Gifford & Co. raised its position in shares of CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of CRH stock opened at $101.94 on Friday. The company has a market capitalization of $69.24 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.30 and a beta of 1.29. The company’s 50-day simple moving average is $95.18 and its two-hundred day simple moving average is $86.18. CRH plc has a one year low of $61.51 and a one year high of $104.19.

CRH Cuts Dividend

The business 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 $0.262 dividend. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio is currently 37.20%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. Barclays assumed coverage on shares of CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price on the stock. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Finally, HSBC initiated coverage on shares of CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus 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.