Fmr LLC Increases Stock Position in CRH plc (NYSE:CRH)

Fmr LLC grew its holdings in shares of CRH plc (NYSE:CRH) by 33.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,156,017 shares of the construction company’s stock after buying an additional 9,055,354 shares during the period. Fmr LLC owned 0.05% of CRH worth $3,341,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Qsemble Capital Management LP lifted its position in CRH by 46.4% during the 3rd quarter. Qsemble Capital Management LP now owns 36,552 shares of the construction company’s stock valued at $3,390,000 after acquiring an additional 11,590 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in CRH in the third quarter worth about $501,000. Daiwa Securities Group Inc. increased its stake in shares of CRH by 17.0% during the third quarter. Daiwa Securities Group Inc. now owns 72,911 shares of the construction company’s stock valued at $6,762,000 after purchasing an additional 10,600 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of CRH by 1,814.9% during the third quarter. Larson Financial Group LLC now owns 1,666 shares of the construction company’s stock valued at $155,000 after purchasing an additional 1,579 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of CRH by 68.7% in the 3rd quarter. Swedbank AB now owns 170,442 shares of the construction company’s stock worth $15,807,000 after purchasing an additional 69,418 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CRH shares. DA Davidson raised their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. Morgan Stanley increased their price target on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price objective on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $106.42.

CRH Price Performance

CRH stock opened at $102.86 on Tuesday. The company has a market capitalization of $69.86 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.28 and a beta of 1.29. CRH plc has a 1-year low of $61.51 and a 1-year high of $103.64. The business has a 50 day simple moving average of $94.49 and a two-hundred day simple moving average of $85.83.

CRH Cuts Dividend

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

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.