Principal Financial Group Inc. Trims Holdings in CRH plc (NYSE:CRH)

Principal Financial Group Inc. lowered its stake in shares of CRH plc (NYSE:CRH) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 717,078 shares of the construction company’s stock after selling 16,683 shares during the period. Principal Financial Group Inc.’s holdings in CRH were worth $66,344,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CRH. Blue Trust Inc. boosted its holdings in CRH by 235.6% in the 3rd quarter. Blue Trust Inc. now owns 2,846 shares of the construction company’s stock valued at $264,000 after purchasing an additional 1,998 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CRH by 47.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 33,409 shares of the construction company’s stock valued at $3,098,000 after acquiring an additional 10,729 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in CRH by 26.3% in the third quarter. Sequoia Financial Advisors LLC now owns 9,645 shares of the construction company’s stock worth $894,000 after acquiring an additional 2,010 shares during the period. Narwhal Capital Management increased its stake in CRH by 29.3% during the third quarter. Narwhal Capital Management now owns 64,324 shares of the construction company’s stock worth $5,965,000 after acquiring an additional 14,567 shares during the last quarter. Finally, TFG Advisers LLC acquired a new position in shares of CRH in the 3rd quarter valued at $290,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRH has been the topic of several research analyst reports. Truist Financial boosted their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley upped their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Barclays began coverage on shares of CRH in a report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, HSBC began coverage on CRH in a report on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.75.

CRH Price Performance

NYSE:CRH opened at $106.00 on Thursday. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97. The firm has a market capitalization of $71.99 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.21 and a beta of 1.30. The business’s fifty day moving average price is $97.85 and its 200 day moving average price is $94.30.

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.