Cibc World Market Inc. Raises Position in Crh Plc $CRH

Cibc World Market Inc. increased its stake in Crh Plc (NYSE:CRH) by 36.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,390 shares of the construction company’s stock after buying an additional 14,985 shares during the quarter. Cibc World Market Inc.’s holdings in CRH were worth $6,761,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRH. Creekmur Asset Management LLC acquired a new stake in CRH in the second quarter valued at approximately $27,000. United Community Bank boosted its stake in shares of CRH by 359.6% in the third quarter. United Community Bank now owns 239 shares of the construction company’s stock valued at $29,000 after purchasing an additional 187 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings in CRH by 1,835.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock valued at $30,000 after purchasing an additional 312 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in CRH by 139.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 268 shares of the construction company’s stock worth $31,000 after buying an additional 156 shares during the period. Finally, Salomon & Ludwin LLC purchased a new stake in CRH during the 3rd quarter worth $32,000. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Trading Up 2.6%

CRH stock opened at $125.99 on Friday. The stock’s 50 day simple moving average is $125.33 and its 200 day simple moving average is $117.56. Crh Plc has a 12-month low of $76.75 and a 12-month high of $131.55. The firm has a market cap of $84.44 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.80 and a beta of 1.33.

Analysts Set New Price Targets

Several analysts have recently weighed in on CRH shares. Wells Fargo & Company lowered their target price on CRH from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. BNP Paribas Exane upgraded CRH to a “strong-buy” rating in a research note on Friday, January 23rd. Citigroup lifted their price objective on CRH from $142.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CRH in a research note on Monday, December 22nd. Finally, Longbow Research began coverage on shares of CRH in a research note on Tuesday, December 16th. They issued a “buy” rating and a $160.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.87.

CRH Company Profile

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.