Wellspring Financial Advisors LLC lifted its position in shares of Crh Plc (NYSE:CRH – Free Report) by 226.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,627 shares of the construction company’s stock after acquiring an additional 5,985 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in CRH were worth $1,077,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Cibc World Market Inc. lifted 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 buying an additional 14,985 shares in the last quarter. ING Groep NV lifted its stake in CRH by 111.1% in the 3rd quarter. ING Groep NV now owns 551,400 shares of the construction company’s stock valued at $66,113,000 after buying an additional 290,200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in CRH by 680.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,237 shares of the construction company’s stock valued at $14,881,000 after acquiring an additional 103,962 shares during the last quarter. TD Asset Management Inc raised its holdings in CRH by 41.0% in the 3rd quarter. TD Asset Management Inc now owns 2,758,784 shares of the construction company’s stock valued at $330,778,000 after acquiring an additional 802,156 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in CRH by 28.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,007,042 shares of the construction company’s stock valued at $120,744,000 after acquiring an additional 221,107 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.
CRH Price Performance
Shares of NYSE CRH opened at $100.17 on Thursday. The company has a 50 day simple moving average of $109.55 and a 200-day simple moving average of $116.08. The company has a market capitalization of $66.93 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.80 and a beta of 1.31. Crh Plc has a 1 year low of $86.82 and a 1 year high of $131.55.
CRH Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.6%. CRH’s dividend payout ratio (DPR) is currently 28.89%.
Analysts Set New Price Targets
A number of analysts have commented on CRH shares. Weiss Ratings downgraded shares of CRH from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of CRH from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. DA Davidson set a $120.00 price objective on shares of CRH in a report on Friday, February 20th. Morgan Stanley reiterated an “overweight” rating and issued a $139.00 price objective on shares of CRH in a report on Wednesday, April 15th. Finally, Wells Fargo & Company increased their price objective 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 assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.54.
Read Our Latest Research Report on CRH
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.
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