Makena Capital Management LLC Has $9.88 Million Position in CRH plc (NYSE:CRH)

Makena Capital Management LLC lowered its position in CRH plc (NYSE:CRH) by 28.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,482 shares of the construction company’s stock after selling 41,924 shares during the quarter. CRH accounts for approximately 2.4% of Makena Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Makena Capital Management LLC’s holdings in CRH were worth $9,875,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CRH. Dupont Capital Management Corp bought a new position in CRH during the 1st quarter worth $13,492,000. Blair William & Co. IL acquired a new position in shares of CRH in the first quarter worth approximately $290,000. Pitcairn Co. bought a new stake in CRH in the first quarter valued at approximately $241,000. Advisors Asset Management Inc. boosted its holdings in CRH by 5.2% in the first quarter. Advisors Asset Management Inc. now owns 102,504 shares of the construction company’s stock valued at $8,842,000 after acquiring an additional 5,074 shares during the last quarter. Finally, Capital World Investors raised its holdings in CRH by 0.6% during the 1st quarter. Capital World Investors now owns 2,461,628 shares of the construction company’s stock worth $212,340,000 after purchasing an additional 15,028 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

CRH Stock Up 0.5 %

Shares of NYSE:CRH opened at $100.24 on Thursday. The business’s 50 day moving average is $93.66 and its 200 day moving average is $85.35. CRH plc has a 12-month low of $59.98 and a 12-month high of $102.51. The stock has a market cap of $68.08 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.46 and a beta of 1.29.

CRH Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.262 per share. This represents a 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 equities analysts recently weighed in on CRH shares. DA Davidson lifted their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Truist Financial lifted their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research report on Monday, November 11th. Barclays started coverage on CRH in a report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. Finally, Morgan Stanley increased their price target on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. One 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 MarketBeat, 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.