Franklin Resources Inc. Buys 1,148,708 Shares of CRH plc (NYSE:CRH)

Franklin Resources Inc. lifted its position in CRH plc (NYSE:CRH - Free Report) by 8.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,351,050 shares of the construction company's stock after buying an additional 1,148,708 shares during the quarter. Franklin Resources Inc. owned about 2.11% of CRH worth $1,329,796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. LGT Group Foundation lifted its position in CRH by 8,189.3% during the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company's stock worth $119,955,000 after acquiring an additional 1,580,527 shares during the last quarter. CWM LLC lifted its position in shares of CRH by 91.2% during the 3rd quarter. CWM LLC now owns 4,064 shares of the construction company's stock worth $377,000 after purchasing an additional 1,938 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in CRH by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company's stock valued at $646,188,000 after purchasing an additional 431,172 shares during the period. TCW Group Inc. grew its holdings in CRH by 25.1% in the 2nd quarter. TCW Group Inc. now owns 43,408 shares of the construction company's stock valued at $3,255,000 after buying an additional 8,696 shares during the last quarter. Finally, Boston Financial Mangement LLC bought a new position in CRH in the 3rd quarter worth approximately $24,784,000. 62.50% of the stock is owned by institutional investors.

CRH Trading Down 0.6 %

NYSE CRH traded down $0.63 during trading hours on Friday, reaching $97.92. 2,001,556 shares of the company's stock were exchanged, compared to its average volume of 4,796,000. The firm has a fifty day moving average of $97.12 and a 200-day moving average of $87.52. CRH plc has a one year low of $65.74 and a one year high of $104.23. The stock has a market cap of $66.51 billion, a PE ratio of 19.71, a price-to-earnings-growth 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. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH's payout ratio is presently 37.20%.

Analyst Ratings Changes

CRH has been the subject of several research reports. Truist Financial increased their price objective on CRH from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Morgan Stanley boosted their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Barclays started coverage on CRH in a report on Tuesday, October 29th. They issued an "overweight" rating and a $110.00 price target for the company. JPMorgan Chase & Co. lifted their price target 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. Finally, DA Davidson raised their price target on shares of CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price 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.