Allianz Asset Management GmbH Reduces Holdings in CRH plc (NYSE:CRH)

Allianz Asset Management GmbH decreased its holdings in shares of CRH plc (NYSE:CRH) by 20.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,327,218 shares of the construction company’s stock after selling 334,121 shares during the period. Allianz Asset Management GmbH’s holdings in CRH were worth $122,794,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. FMR LLC grew its stake in shares of CRH by 33.4% during the third quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after acquiring an additional 9,055,354 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of CRH by 8.7% during the third quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock worth $1,329,796,000 after acquiring an additional 1,148,708 shares during the last quarter. State Street Corp grew its stake in shares of CRH by 4.9% during the third quarter. State Street Corp now owns 13,139,233 shares of the construction company’s stock worth $1,218,532,000 after acquiring an additional 618,786 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of CRH by 2.1% during the third quarter. Geode Capital Management LLC now owns 7,985,356 shares of the construction company’s stock worth $738,113,000 after acquiring an additional 165,825 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of CRH by 515.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock worth $473,270,000 after acquiring an additional 4,274,336 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Trading Down 3.3 %

Shares of NYSE:CRH opened at $102.59 on Friday. The company has a market capitalization of $69.68 billion, a PE ratio of 20.52, a PEG ratio of 1.24 and a beta of 1.30. The business has a 50 day moving average of $97.93 and a two-hundred day moving average of $94.36. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CRH shares. HSBC started coverage on CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 target price for the company. Barclays started coverage on CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price for the company. Truist Financial lifted their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Hsbc Global Res raised CRH to a “strong-buy” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CRH currently has an average rating of “Moderate Buy” and an average price target of $107.75.

CRH Company 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.