Barclays PLC Sells 24,516,842 Shares of CRH plc (NYSE:CRH)

Barclays PLC lowered its holdings in shares of CRH plc (NYSE:CRH) by 84.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,628,855 shares of the construction company’s stock after selling 24,516,842 shares during the period. Barclays PLC’s holdings in CRH were worth $429,280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Grove Bank & Trust increased its holdings in shares of CRH by 9.5% during the third quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock worth $132,000 after buying an additional 123 shares in the last quarter. UMB Bank n.a. grew its position in CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after acquiring an additional 125 shares during the last quarter. CVA Family Office LLC increased its holdings in CRH by 2.1% in the 3rd quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock worth $567,000 after purchasing an additional 128 shares in the last quarter. Lindbrook Capital LLC raised its position in CRH by 2.9% in the third quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock valued at $447,000 after purchasing an additional 135 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRH. Barclays started coverage on CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. HSBC initiated coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective on the stock. DA Davidson raised their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Truist Financial upped their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $106.42.

CRH Price Performance

Shares of NYSE:CRH opened at $103.00 on Monday. The business’s 50-day moving average is $96.43 and its 200-day moving average is $87.10. CRH plc has a 1 year low of $62.80 and a 1 year high of $104.23. The company has a market capitalization of $69.96 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 1.30 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. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s payout ratio is 37.20%.

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.