Freedom Investment Management Inc. Sells 1,055 Shares of CRH plc (NYSE:CRH)

Freedom Investment Management Inc. trimmed its position in shares of CRH plc (NYSE:CRH) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,664 shares of the construction company’s stock after selling 1,055 shares during the period. Freedom Investment Management Inc.’s holdings in CRH were worth $804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRH. Deseret Mutual Benefit Administrators bought a new position in shares of CRH during the third quarter valued at approximately $25,000. UMB Bank n.a. boosted its holdings in CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after purchasing an additional 259 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in CRH in the third quarter worth approximately $35,000. Finally, Baillie Gifford & Co. boosted its holdings in CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRH. StockNews.com upgraded shares of CRH from a “hold” rating to a “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 stock an “overweight” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Barclays assumed coverage on shares of CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target on the stock. Finally, HSBC assumed coverage on shares of CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 price target on the stock. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $106.42.

CRH Stock Performance

CRH opened at $101.94 on Friday. CRH plc has a fifty-two week low of $61.51 and a fifty-two week high of $104.19. The firm’s fifty day moving average is $95.18 and its 200 day moving average is $86.18. The stock has a market cap of $69.24 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29.

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 paid a $0.262 dividend. This represents a yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s 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.