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

Franklin Resources Inc. increased its position in shares of CRH plc (NYSE:CRH) by 8.7% during the third quarter, Holdings Channel reports. The institutional investor owned 14,351,050 shares of the construction company’s stock after purchasing an additional 1,148,708 shares during the period. Franklin Resources Inc.’s holdings in CRH were worth $1,329,796,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in CRH by 33.4% during the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after buying an additional 9,055,354 shares during the period. State Street Corp raised its stake in CRH by 4.9% during the 3rd quarter. State Street Corp now owns 13,139,233 shares of the construction company’s stock worth $1,218,532,000 after buying an additional 618,786 shares during the period. Greenhaven Associates Inc. raised its stake in CRH by 0.3% during the 3rd quarter. Greenhaven Associates Inc. now owns 11,155,273 shares of the construction company’s stock worth $1,034,540,000 after buying an additional 35,209 shares during the period. Bank of New York Mellon Corp raised 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 worth $646,188,000 after buying an additional 431,172 shares during the period. Finally, Geode Capital Management LLC raised its stake in CRH by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,985,356 shares of the construction company’s stock worth $738,113,000 after buying an additional 165,825 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Price Performance

CRH opened at $98.57 on Friday. The stock has a 50-day moving average price of $97.12 and a 200-day moving average price of $87.52. The firm has a market cap of $66.95 billion, a PE ratio of 19.71, a P/E/G ratio of 1.25 and a beta of 1.29. CRH plc has a 1 year low of $65.69 and a 1 year high of $104.23.

CRH Cuts Dividend

The business also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be given a $0.262 dividend. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s dividend payout ratio is presently 37.20%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CRH. HSBC began coverage on CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Hsbc Global Res raised CRH to a “strong-buy” rating in a research note on Monday, November 11th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, Truist Financial boosted their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment 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. Based on data from MarketBeat, CRH has an average 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.