Wellington Management Group LLP Sells 214,836 Shares of CRH plc (NYSE:CRH)

Wellington Management Group LLP decreased its stake in CRH plc (NYSE:CRH) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,932,587 shares of the construction company’s stock after selling 214,836 shares during the period. Wellington Management Group LLP’s holdings in CRH were worth $268,234,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. grew its holdings in shares of CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after acquiring an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators bought a new position in shares of CRH in the 3rd quarter valued at about $25,000. UMB Bank n.a. grew its holdings in shares of CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after acquiring an additional 125 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of CRH in the 3rd quarter valued at about $35,000. Finally, Baillie Gifford & Co. grew its holdings in shares of CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRH. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. HSBC began coverage on CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 price target for the company. Barclays began coverage on CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target for the company. Truist Financial lifted their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $106.42.

CRH Trading Up 0.2 %

NYSE CRH opened at $103.00 on Friday. CRH plc has a 1-year low of $62.80 and a 1-year high of $104.23. The company has a 50 day moving average of $96.43 and a 200-day moving average of $87.05. The company has a market cap of $69.96 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.31 and a beta of 1.29.

CRH Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be given a $0.262 dividend. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is 37.20%.

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.