M&G Plc Sells 5,896 Shares of CRH plc (NYSE:CRH)

M&G Plc decreased its position in shares of CRH plc (NYSE:CRH) by 16.1% in the third quarter, HoldingsChannel reports. The firm owned 30,714 shares of the construction company’s stock after selling 5,896 shares during the quarter. M&G Plc’s holdings in CRH were worth $2,848,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in CRH by 211.8% during the first quarter. Janney Montgomery Scott LLC now owns 38,683 shares of the construction company’s stock valued at $3,337,000 after acquiring an additional 26,276 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of CRH during the first quarter worth $1,277,000. SG Americas Securities LLC boosted its stake in shares of CRH by 510.9% during the first quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock valued at $1,963,000 after purchasing an additional 19,027 shares during the period. LGT Group Foundation grew its stake in CRH by 8,189.3% in the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after acquiring an additional 1,580,527 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of CRH by 35.7% during the second quarter. Assenagon Asset Management S.A. now owns 4,238,173 shares of the construction company’s stock valued at $317,778,000 after acquiring an additional 1,114,177 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRH has been the topic of several research reports. StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. DA Davidson increased their price target on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Barclays began coverage on shares of CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. Finally, Truist Financial increased their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $101.90.

CRH Stock Performance

Shares of CRH opened at $100.71 on Friday. The stock’s 50-day moving average price is $91.44 and its 200-day moving average price is $84.11. CRH plc has a 52 week low of $58.12 and a 52 week high of $102.45.

CRH (NYSE:CRH) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, hitting analysts’ consensus estimates of $1.85. The firm had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. Research analysts predict that CRH plc will post 5.45 EPS for the current fiscal year.

CRH Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 22nd.

About CRH

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.