Dai ichi Life Insurance Company Ltd Sells 4,194 Shares of CRH plc (NYSE:CRH)

Dai ichi Life Insurance Company Ltd cut its stake in shares of CRH plc (NYSE:CRH) by 8.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,567 shares of the construction company’s stock after selling 4,194 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in CRH were worth $4,226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its holdings in CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after acquiring an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in CRH in the 3rd quarter worth approximately $25,000. UMB Bank n.a. increased 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 worth $28,000 after acquiring an additional 125 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in CRH in the 3rd quarter worth approximately $35,000. Finally, Baillie Gifford & Co. increased its holdings in CRH by 70.7% in 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. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CRH shares. Morgan Stanley increased their target price on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Barclays assumed coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. DA Davidson increased their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, HSBC assumed coverage on shares of CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 price objective for the company. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $106.42.

CRH Stock Performance

NYSE CRH opened at $102.87 on Wednesday. The company has a market capitalization of $69.87 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.28 and a beta of 1.29. CRH plc has a one year low of $61.51 and a one year high of $103.64. The stock has a 50 day moving average price of $94.76 and a 200-day moving average price of $85.96.

CRH Cuts Dividend

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