Franklin Resources Inc. Has $1.33 Billion Position in CRH plc (NYSE:CRH)

Franklin Resources Inc. lifted its holdings in shares of CRH plc (NYSE:CRH) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,351,050 shares of the construction company’s stock after purchasing an additional 1,148,708 shares during the quarter. Franklin Resources Inc. owned 2.11% of CRH worth $1,329,796,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Deseret Mutual Benefit Administrators acquired a new stake in shares of CRH during the third quarter worth about $25,000. UMB Bank n.a. raised its position in shares of CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the period. GHP Investment Advisors Inc. raised its position in CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after buying an additional 259 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in CRH in the 3rd quarter valued at approximately $35,000. Finally, Baillie Gifford & Co. raised its position in CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Price Performance

Shares of CRH stock opened at $98.57 on Friday. CRH plc has a one year low of $65.69 and a one year high of $104.23. The stock’s 50-day moving average is $97.12 and its 200 day moving average is $87.52. The firm has a market cap of $66.95 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.25 and a beta of 1.29.

CRH Cuts Dividend

The firm also recently announced 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 is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is 37.20%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRH. Barclays began 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. JPMorgan Chase & Co. lifted their target price on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Hsbc Global Res raised CRH to a “strong-buy” rating in a research report on Monday, November 11th. HSBC began coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price on the stock. Finally, StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. One equities 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’s stock. According to data from MarketBeat, CRH currently has a consensus rating of “Buy” and an average price target of $106.42.

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.