Beach Investment Counsel Inc. PA Trims Stock Position in CRH plc (NYSE:CRH)

Beach Investment Counsel Inc. PA reduced its position in CRH plc (NYSE:CRH - Free Report) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,324 shares of the construction company's stock after selling 7,223 shares during the quarter. CRH comprises approximately 2.1% of Beach Investment Counsel Inc. PA's portfolio, making the stock its 16th biggest position. Beach Investment Counsel Inc. PA's holdings in CRH were worth $15,666,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CRH. Arkadios Wealth Advisors increased its stake in CRH by 4.9% in the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company's stock valued at $216,000 after purchasing an additional 109 shares during the period. Grove Bank & Trust increased its position in CRH by 9.5% in the 3rd quarter. Grove Bank & Trust now owns 1,419 shares of the construction company's stock valued at $132,000 after acquiring an additional 123 shares during the period. UMB Bank n.a. raised its stake in CRH by 72.7% during the 3rd 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. CVA Family Office LLC lifted its position in CRH by 2.1% during the 3rd quarter. CVA Family Office LLC now owns 6,116 shares of the construction company's stock worth $567,000 after acquiring an additional 128 shares during the period. Finally, Lindbrook Capital LLC grew its stake in shares of CRH by 2.9% in the 3rd quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company's stock valued at $447,000 after purchasing an additional 135 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Stock Down 1.7 %

Shares of CRH stock traded down $1.75 during trading on Friday, hitting $103.44. 4,194,406 shares of the company were exchanged, compared to its average volume of 3,482,176. The firm has a 50 day moving average price of $97.08 and a 200 day moving average price of $92.71. The stock has a market capitalization of $70.26 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 1.08 and a beta of 1.30. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $105.58.

Wall Street Analyst Weigh In

Several analysts have recently commented on CRH shares. Truist Financial raised their target price on shares of CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. StockNews.com raised CRH from a "hold" rating to a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on CRH from $114.00 to $116.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. Morgan Stanley upped their price objective on CRH from $95.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Finally, Barclays began coverage on shares of CRH in a research note on Tuesday, October 29th. They set an "overweight" rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, CRH has a consensus rating of "Buy" and an average price target of $107.75.

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.