On September 9, 2023, the Renaissance Group LLC announced a reduction in its holdings of CRH plc (NYSE:CRH), a leading construction company. According to the company’s disclosure with the SEC, Renaissance Group LLC decreased its holdings by 6.6% during the first quarter. The institutional investor sold 10,967 shares during this period, resulting in a total ownership of 156,365 shares.
As of its most recent SEC filing, Renaissance Group LLC valued its holdings in CRH at $7,954,000. This development highlights the strategic decision made by Renaissance Group LLC regarding its investment portfolio.
For investors and financial analysts interested in staying updated on CRH and other hedge funds’ activities, HoldingsChannel.com provides access to the latest 13F filings and insider trades related to CRH plc (NYSE:CRH). By visiting the website, stakeholders can gain valuable insights into market trends and informed investment decisions.
CRH plc is recognized as a prominent player in the construction industry. As an international building materials group based in Dublin, Ireland, CRH operates across various segments such as Europe Materials, Americas Materials, and Building Products. Its diversified portfolio includes products like aggregates, cement, asphalt, ready-mixed concrete, and more.
This news of Renaissance Group LLC cutting its holdings may have implications for investors who closely monitor changes in major institutional shareholders. Detailed analysis of these actions can provide valuable information about market sentiments towards CRH and potentially influence further investment decisions.
In conclusion, Renaissance Group LLC’s recent reduction in their stake within CRH plc demonstrates their strategic approach to managing their investment portfolio. As an institutional investor actively monitoring market trends in the construction sector and beyond, their actions may be worth considering for those interested in gaining insight into prevailing sentiments within the industry. Investors looking for further updates regarding CRH or other hedge fund activities can rely on resources like HoldingsChannel.com to make well-informed decisions based on the latest 13F filings and insider trades.
Updated on: 04/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Institutional Investors and Hedge Funds Increase Holdings in CRH, a Leading Construction Company
CRH, a leading construction company, has recently seen some changes in its holdings by various hedge funds and institutional investors. JPMorgan Chase & Co., for example, has increased its stake in CRH by 0.3% during the first quarter of this year. The bank now owns over 269,000 shares of CRH stock, valued at $10.79 million.
Another major player, Bank of New York Mellon Corp, has also increased its stake in CRH by 0.8% during the same period. The bank now holds more than 262,000 shares of the construction company’s stock, valued at $10.52 million.
In addition to these modifications, American Century Companies Inc. acquired a new stake in CRH worth approximately $1.54 million during the first quarter. Meanwhile, Bank of Montreal Can boosted its stake in CRH by 3.1% and now owns over 27,000 shares valued at $1.11 million.
Prudential Financial Inc., on the other hand, significantly increased its stake in CRH by 24.6%, bringing its total ownership to 8,328 shares valued at $334,000.
These changes within institutional investments have resulted in approximately 8.21% of CRH stock being owned by these investors.
Research reports have also been conducted on CRH with notable conclusions so far. Redburn Partners initiated coverage on the company and provided a “buy” rating along with a price objective of $6.50 per share.
StockNews.com also upgraded CRH from a “buy” rating to a “strong-buy” rating in August.
If you’re interested in keeping track of other hedge funds’ holdings in CRH and want to stay informed about insider trades related to the company, you can visit HoldingsChannel.com for the latest information on 13F filings and insider activities.
As of last Friday’s trading session, shares of CRH were down to $54.70, with a trade volume of 1,764,368 shares. The company’s stock has a range of $31.22 to $60.72 over the past year. Its 50-day moving average stands at $57.45, while the 200-day moving average is slightly lower at $52.33.
CRH operates through three key segments: Americas Materials, Europe Materials, and Building Products. The company specializes in manufacturing and distributing a wide range of building materials across Ireland and internationally.
Its product portfolio includes cement, lime, aggregates, precast concrete, ready mixed concrete, asphalt products, and more. CRH also offers construction accessories such as engineered anchoring solutions and formwork accessories.
With its diverse range of offerings and strong institutional support from hedge funds and investors alike, CRH continues to make strides in the construction industry both domestically and internationally.
Please note that these figures are accurate as per September 9th, 2023 data.