Massachusetts Financial Services Co. MA Decreases Holdings in CRH plc (NYSE:CRH)

Massachusetts Financial Services Co. MA cut its stake in CRH plc (NYSE:CRH) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,374,893 shares of the construction company’s stock after selling 484,978 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.93% of CRH worth $591,208,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators purchased a new stake in shares of CRH during the 3rd quarter valued at about $25,000. UMB Bank n.a. lifted its position in shares of CRH by 72.7% during 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 in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after purchasing an additional 259 shares during the period. Meeder Asset Management Inc. acquired a new stake in CRH during the 3rd quarter valued at $35,000. Finally, Baillie Gifford & Co. increased its stake in CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CRH shares. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a report on Monday, November 11th. Morgan Stanley raised 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. upped their price target on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Barclays assumed coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. One 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 company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $106.42.

CRH Price Performance

Shares of NYSE CRH opened at $100.53 on Friday. CRH plc has a 1-year low of $60.83 and a 1-year high of $102.51. The firm has a market capitalization of $68.28 billion, a PE ratio of 20.11, a P/E/G ratio of 1.46 and a beta of 1.29. The business’s fifty day moving average price is $93.93 and its two-hundred day moving average price is $85.46.

CRH Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.262 per share. This represents a yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s payout ratio is 32.00%.

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.