Gallo Partners LP Makes New Investment in CRH plc (NYSE:CRH)

Gallo Partners LP purchased a new stake in shares of CRH plc (NYSE:CRH) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 42,853 shares of the construction company’s stock, valued at approximately $3,965,000. CRH makes up about 2.9% of Gallo Partners LP’s investment portfolio, making the stock its 5th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in CRH. Heck Capital Advisors LLC bought a new position in shares of CRH during the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. increased its position in CRH by 214.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after purchasing an additional 240 shares during the period. Whipplewood Advisors LLC bought a new position in CRH during the 4th quarter worth approximately $38,000. Deseret Mutual Benefit Administrators lifted its position in shares of CRH by 87.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock worth $47,000 after purchasing an additional 236 shares during the period. Finally, GeoWealth Management LLC boosted its stake in shares of CRH by 46.3% in the 4th quarter. GeoWealth Management LLC now owns 559 shares of the construction company’s stock valued at $52,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Berenberg Bank set a $120.00 price target on shares of CRH in a research report on Friday, February 28th. Royal Bank of Canada cut their target price on CRH from $127.00 to $108.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Loop Capital assumed coverage on CRH in a report on Wednesday, April 9th. They issued a “buy” rating and a $114.00 target price for the company. Citigroup cut their price target on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $112.36.

CRH Trading Up 0.4 %

CRH opened at $93.44 on Wednesday. CRH plc has a 1-year low of $71.18 and a 1-year high of $110.97. The company has a market cap of $63.19 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.15 and a beta of 1.30. The company’s fifty day moving average price is $92.24 and its two-hundred day moving average price is $96.01.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, March 14th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Friday, March 14th. This is a positive change from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is currently 22.66%.

CRH 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.