Generate Investment Management Ltd Trims Stake in CRH plc (NYSE:CRH)

Generate Investment Management Ltd lessened its position in shares of CRH plc (NYSE:CRH) by 12.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 267,820 shares of the construction company’s stock after selling 38,514 shares during the quarter. CRH accounts for about 1.7% of Generate Investment Management Ltd’s holdings, making the stock its 15th biggest position. Generate Investment Management Ltd’s holdings in CRH were worth $24,779,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators acquired a new stake in shares of CRH in the third quarter valued at approximately $25,000. UMB Bank n.a. raised its position in 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 purchasing an additional 125 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in CRH during the 4th quarter worth $32,000. Meeder Asset Management Inc. purchased a new position in CRH during the 3rd quarter worth $35,000. Finally, Baillie Gifford & Co. increased its stake in CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

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

CRH Stock Up 3.9 %

Shares of NYSE CRH opened at $105.11 on Friday. The firm has a 50-day moving average price of $97.08 and a 200 day moving average price of $92.71. CRH plc has a 52 week low of $71.18 and a 52 week high of $105.58. The stock has a market capitalization of $71.39 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30.

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.