Cannon Global Investment Management LLC Reduces Holdings in CRH plc (NYSE:CRH)

Cannon Global Investment Management LLC decreased its holdings in shares of CRH plc (NYSE:CRH) by 27.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,500 shares of the construction company’s stock after selling 2,500 shares during the period. CRH makes up approximately 3.4% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 12th largest holding. Cannon Global Investment Management LLC’s holdings in CRH were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. lifted its holdings in CRH by 139.0% in the third quarter. Financial Management Professionals Inc. now owns 545 shares of the construction company’s stock valued at $30,000 after acquiring an additional 317 shares during the period. Pinnacle Bancorp Inc. acquired a new position in shares of CRH during the 4th quarter worth approximately $30,000. KB Financial Partners LLC acquired a new position in shares of CRH during the 1st quarter worth approximately $30,000. UMB Bank n.a. acquired a new position in shares of CRH during the 4th quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co acquired a new position in shares of CRH during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Up 0.4 %

Shares of NYSE:CRH traded up $0.32 during midday trading on Friday, reaching $77.46. 1,188,458 shares of the company’s stock were exchanged, compared to its average volume of 3,627,761. The firm’s 50 day simple moving average is $81.87 and its two-hundred day simple moving average is $69.83. CRH plc has a fifty-two week low of $47.14 and a fifty-two week high of $88.00.

CRH Dividend Announcement

The firm also recently disclosed a Variable dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 15th were given a dividend of $0.262 per share. This represents a dividend yield of 2%. The ex-dividend date was Thursday, March 14th.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRH. Stifel Nicolaus reaffirmed a “hold” rating and set a $82.00 target price (up from $80.00) on shares of CRH in a research note on Monday. Vertical Research initiated coverage on CRH in a research note on Friday, March 22nd. They set a “buy” rating and a $105.00 target price for the company. StockNews.com upgraded CRH from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 27th. Truist Financial boosted their price target on CRH from $81.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, DA Davidson assumed coverage on CRH in a research note on Friday, January 19th. They issued a “buy” rating and a $82.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CRH presently has an average rating of “Moderate Buy” and a consensus target price of $79.31.

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.