National Bank of Canada FI Sells 520 Shares of CRH plc (NYSE:CRH)

National Bank of Canada FI cut its stake in shares of CRH plc (NYSE:CRH) by 15.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,914 shares of the construction company’s stock after selling 520 shares during the quarter. National Bank of Canada FI’s holdings in CRH were worth $270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators acquired a new stake in shares of CRH in the 3rd quarter valued at about $25,000. UMB Bank n.a. grew its stake in CRH by 72.7% in the third 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 during the period. GHP Investment Advisors Inc. increased its holdings in shares of CRH by 336.4% during the second 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. Meeder Asset Management Inc. acquired a new position in shares of CRH during the third quarter worth approximately $35,000. Finally, Baillie Gifford & Co. grew its position in 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 purchasing an additional 162 shares during the period. 62.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRH shares. DA Davidson upped their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Truist Financial upped their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays started coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target for the company. HSBC initiated coverage on CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective for the company. Finally, Hsbc Global Res upgraded CRH to a “strong-buy” rating in a report on Monday, November 11th. 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. According to data from MarketBeat, CRH presently has an average rating of “Buy” and a consensus target price of $106.42.

CRH Stock Performance

CRH opened at $98.21 on Tuesday. The firm has a market cap of $66.70 billion, a P/E ratio of 19.64, a PEG ratio of 1.25 and a beta of 1.29. CRH plc has a fifty-two week low of $65.74 and a fifty-two week high of $104.23. The firm has a 50-day moving average of $97.49 and a 200 day moving average of $87.88.

CRH Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is currently 21.00%.

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.