Cannon Global Investment Management LLC Invests $408,000 in CRH plc (NYSE:CRH)

Cannon Global Investment Management LLC bought a new position in shares of CRH plc (NYSE:CRH) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,400 shares of the construction company’s stock, valued at approximately $408,000.

Several other large investors also recently modified their holdings of CRH. GHP Investment Advisors Inc. grew its holdings in shares of CRH by 336.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after purchasing an additional 259 shares in the last quarter. UMB Bank n.a. grew its position in CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. Rothschild Investment LLC bought a new position in CRH in the second quarter valued at about $43,000. Quarry LP bought a new position in CRH in the second quarter valued at about $49,000. Finally, Blue Trust Inc. grew its position in CRH by 341.7% in the second quarter. Blue Trust Inc. now owns 848 shares of the construction company’s stock valued at $64,000 after acquiring an additional 656 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Price Performance

Shares of CRH stock traded up $0.37 during midday trading on Friday, reaching $95.80. The company had a trading volume of 2,870,876 shares, compared to its average volume of 3,344,304. The stock has a fifty day moving average price of $90.49 and a 200 day moving average price of $83.42. CRH plc has a fifty-two week low of $56.39 and a fifty-two week high of $96.82.

CRH (NYSE:CRH) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, hitting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion during the quarter, compared to analyst estimates of $10.16 billion. As a group, research analysts expect that CRH plc will post 5.44 EPS for the current year.

CRH Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were paid a $0.35 dividend. This represents a yield of 1.7%. The ex-dividend date was Friday, August 23rd.

Analyst Upgrades and Downgrades

CRH has been the topic of a number of recent analyst reports. Barclays initiated coverage on CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price on the stock. Citigroup decreased their target price on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. DA Davidson lifted their target price on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Finally, Truist Financial boosted their price target on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.00.

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.