Empire Life Investments Inc. bought a new position in shares of Crh Plc (NYSE:CRH – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm bought 39,554 shares of the construction company’s stock, valued at approximately $4,936,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of CRH by 24.7% in the third quarter. Principal Financial Group Inc. now owns 2,269,271 shares of the construction company’s stock valued at $272,086,000 after acquiring an additional 448,860 shares in the last quarter. Cibc World Market Inc. raised its stake in CRH by 36.2% in the 3rd quarter. Cibc World Market Inc. now owns 56,390 shares of the construction company’s stock valued at $6,761,000 after purchasing an additional 14,985 shares during the last quarter. Exane Asset Management lifted its holdings in CRH by 21.2% in the 3rd quarter. Exane Asset Management now owns 663,774 shares of the construction company’s stock valued at $80,735,000 after purchasing an additional 116,178 shares in the last quarter. SouthState Bank Corp boosted its stake in shares of CRH by 20,243.5% during the 3rd quarter. SouthState Bank Corp now owns 21,971 shares of the construction company’s stock worth $2,634,000 after purchasing an additional 21,863 shares during the last quarter. Finally, Dynasty Wealth Management LLC boosted its stake in shares of CRH by 77.5% during the 3rd quarter. Dynasty Wealth Management LLC now owns 34,077 shares of the construction company’s stock worth $4,086,000 after purchasing an additional 14,877 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.
CRH Trading Down 0.9%
Shares of NYSE CRH opened at $111.50 on Wednesday. The company has a market capitalization of $74.50 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.98 and a beta of 1.36. Crh Plc has a twelve month low of $86.82 and a twelve month high of $131.55. The business has a 50 day simple moving average of $110.07 and a 200-day simple moving average of $117.66.
CRH Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 1.4%. CRH’s dividend payout ratio is presently 28.89%.
Wall Street Analysts Forecast Growth
CRH has been the subject of a number of analyst reports. DA Davidson set a $120.00 price objective on shares of CRH in a research report on Friday, February 20th. Morgan Stanley restated an “overweight” rating and set a $139.00 price objective on shares of CRH in a report on Wednesday, April 15th. BNP Paribas Exane raised shares of CRH to a “strong-buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. upped their target price on CRH from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Finally, Wells Fargo & Company raised their price target on shares of CRH from $133.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $139.54.
View Our Latest Stock Report on CRH
CRH 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.
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