Narwhal Capital Management Lowers Stock Position in CRH plc (NYSE:CRH)

Narwhal Capital Management trimmed its stake in CRH plc (NYSE:CRH) by 6.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 60,189 shares of the construction company’s stock after selling 4,135 shares during the period. Narwhal Capital Management’s holdings in CRH were worth $5,569,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Deseret Mutual Benefit Administrators purchased a new stake in CRH in the third quarter valued at approximately $25,000. UMB Bank n.a. raised its holdings in shares of 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. Meeder Asset Management Inc. purchased a new stake in shares of CRH in the 3rd quarter valued at $35,000. Baillie Gifford & Co. lifted 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 acquiring an additional 162 shares in the last quarter. Finally, Quarry LP purchased a new position in CRH during the 2nd quarter valued at about $49,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Stock Up 0.8 %

Shares of CRH stock opened at $101.36 on Monday. The firm has a market capitalization of $68.85 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.09 and a beta of 1.31. CRH plc has a 52 week low of $68.76 and a 52 week high of $104.23. The firm’s 50 day moving average is $97.35 and its two-hundred day moving average is $91.55.

CRH Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 22nd were paid a dividend of $0.262 per share. The ex-dividend date was Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio is currently 21.00%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRH. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. HSBC initiated coverage on shares of CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 price target for the company. JPMorgan Chase & Co. upped their price objective on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Barclays began coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price for the company. Finally, DA Davidson increased their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $107.75.

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.