Coronation Fund Managers Ltd. Decreases Stock Holdings in Crh Plc $CRH

Coronation Fund Managers Ltd. lessened its stake in Crh Plc (NYSE:CRH) by 14.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,220 shares of the construction company’s stock after selling 7,101 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in CRH were worth $5,062,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of CRH by 1.0% in the second quarter. Vanguard Group Inc. now owns 64,405,066 shares of the construction company’s stock valued at $5,912,385,000 after purchasing an additional 649,598 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in CRH by 24.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,803,346 shares of the construction company’s stock valued at $1,175,347,000 after buying an additional 2,499,558 shares in the last quarter. Norges Bank acquired a new stake in CRH in the 2nd quarter worth about $1,007,932,000. Bank of New York Mellon Corp increased its stake in CRH by 6.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,788,282 shares of the construction company’s stock worth $1,173,615,000 after buying an additional 603,082 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of CRH by 9.4% during the second quarter. Boston Partners now owns 9,654,828 shares of the construction company’s stock valued at $888,810,000 after acquiring an additional 832,027 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Stock Up 2.6%

NYSE CRH opened at $125.99 on Friday. The business’s fifty day simple moving average is $125.33 and its 200-day simple moving average is $117.70. The firm has a market cap of $84.44 billion, a PE ratio of 25.10, a P/E/G ratio of 1.85 and a beta of 1.33. Crh Plc has a 52 week low of $76.75 and a 52 week high of $131.55.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRH shares. UBS Group lifted their price target on CRH from $138.00 to $147.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Wells Fargo & Company lowered their target price on shares of CRH from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 29th. Morgan Stanley upped their target price on shares of CRH from $131.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. DA Davidson raised their price target on shares of CRH from $110.00 to $116.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CRH in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.87.

CRH Profile

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.