Baupost Group LLC MA Sells 1,590,000 Shares of CRH plc (NYSE:CRH)

Baupost Group LLC MA trimmed its stake in shares of CRH plc (NYSE:CRH) by 37.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,636,602 shares of the construction company’s stock after selling 1,590,000 shares during the period. CRH comprises 7.0% of Baupost Group LLC MA’s holdings, making the stock its 5th largest position. Baupost Group LLC MA’s holdings in CRH were worth $244,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRH. FMR LLC grew its holdings in CRH by 33.4% during the third quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after acquiring an additional 9,055,354 shares during the period. Legal & General Group Plc grew its holdings in CRH by 36,503.4% during the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after acquiring an additional 4,825,752 shares during the period. American Century Companies Inc. grew its holdings in CRH by 103.9% during the second quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after acquiring an additional 2,365,589 shares during the period. LGT Group Foundation boosted its position in CRH by 8,189.3% during the second quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after purchasing an additional 1,580,527 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in CRH by 173.0% during the second quarter. Bank of Montreal Can now owns 2,128,963 shares of the construction company’s stock worth $160,183,000 after purchasing an additional 1,349,023 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. DA Davidson increased their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Truist Financial increased their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, HSBC assumed coverage on CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price target on the stock. 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 data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $106.42.

CRH Price Performance

NYSE CRH opened at $102.87 on Wednesday. CRH plc has a 1-year low of $61.51 and a 1-year high of $103.64. The company has a market cap of $69.87 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. The stock’s 50 day simple moving average is $94.76 and its 200-day simple moving average is $85.96.

CRH Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be given a dividend of $0.262 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 1.4%. CRH’s payout ratio is 37.20%.

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.