Cannon Global Investment Management LLC Sells 2,500 Shares of CRH plc (NYSE:CRH)

Cannon Global Investment Management LLC reduced its stake in shares of CRH plc (NYSE:CRH) by 27.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,500 shares of the construction company’s stock after selling 2,500 shares during the period. CRH accounts for approximately 3.4% of Cannon Global Investment Management LLC’s portfolio, making the stock its 12th biggest holding. Cannon Global Investment Management LLC’s holdings in CRH were worth $450,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Barclays PLC bought a new position in shares of CRH in the third quarter worth about $941,562,000. International Assets Investment Management LLC bought a new position in shares of CRH in the fourth quarter worth about $3,358,000. Vanguard Group Inc. bought a new position in CRH during the third quarter valued at about $1,484,901,000. Asio Capital LLC increased its stake in CRH by 75.3% during the fourth quarter. Asio Capital LLC now owns 54,015 shares of the construction company’s stock valued at $3,736,000 after acquiring an additional 23,205 shares during the period. Finally, California Public Employees Retirement System bought a new position in CRH during the third quarter valued at about $73,833,000. 62.50% of the stock is currently owned by institutional investors.

CRH Price Performance

Shares of CRH traded up $0.32 during trading hours on Friday, reaching $77.46. The stock had a trading volume of 1,188,458 shares, compared to its average volume of 3,627,761. CRH plc has a 52 week low of $47.14 and a 52 week high of $88.00. The firm has a 50-day moving average of $81.87 and a 200 day moving average of $69.83.

CRH Dividend Announcement

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

Wall Street Analyst Weigh In

CRH has been the topic of several research reports. Vertical Research initiated coverage on CRH in a research note on Friday, March 22nd. They set a “buy” rating and a $105.00 price target on the stock. StockNews.com raised CRH from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 27th. Truist Financial boosted their target price on CRH from $81.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Stifel Nicolaus reissued a “hold” rating and issued a $82.00 target price (up from $80.00) on shares of CRH in a report on Monday. Finally, DA Davidson started coverage on CRH in a report on Friday, January 19th. They issued a “buy” rating and a $82.00 target price on the stock. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CRH currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.31.

About CRH

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.