Strait & Sound Wealth Management LLC Reduces Holdings in CRH plc (NYSE:CRH)

Strait & Sound Wealth Management LLC lessened its position in shares of CRH plc (NYSE:CRH) by 27.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,355 shares of the construction company’s stock after selling 885 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in CRH were worth $218,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Grove Bank & Trust raised its position in CRH by 9.5% in the third quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock valued at $132,000 after purchasing an additional 123 shares during the period. UMB Bank n.a. raised its holdings in CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after buying an additional 125 shares during the period. CVA Family Office LLC raised its holdings in CRH by 2.1% in the 3rd quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock valued at $567,000 after buying an additional 128 shares during the period. Lindbrook Capital LLC lifted its position in CRH by 2.9% in the third quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock valued at $447,000 after buying an additional 135 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in CRH by 70.7% during the third 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. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on CRH shares. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Barclays initiated coverage on shares of CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target on the stock. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Truist Financial lifted 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. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $106.42.

CRH Trading Down 2.8 %

Shares of CRH opened at $100.11 on Tuesday. The firm’s fifty day simple moving average is $96.58 and its 200-day simple moving average is $87.24. The firm has a market capitalization of $67.99 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 1.30 and a beta of 1.29. CRH plc has a twelve month low of $65.06 and a twelve month high of $104.23.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Investors 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 37.20%.

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.