Wealthfront Advisers LLC increased its holdings in shares of Crh Plc (NYSE:CRH – Free Report) by 76.0% during the first quarter, Holdings Channel.com reports. The fund owned 28,172 shares of the construction company’s stock after buying an additional 12,162 shares during the period. Wealthfront Advisers LLC’s holdings in CRH were worth $2,961,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in CRH by 680.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,237 shares of the construction company’s stock worth $14,881,000 after purchasing an additional 103,962 shares in the last quarter. Pacific Capital Partners Ltd increased its position in shares of CRH by 47.1% in the fourth quarter. Pacific Capital Partners Ltd now owns 43,750 shares of the construction company’s stock valued at $5,460,000 after buying an additional 14,000 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of CRH by 33.2% during the 4th quarter. Principal Financial Group Inc. now owns 3,021,734 shares of the construction company’s stock worth $377,112,000 after buying an additional 752,463 shares during the period. Mirabaud Asset Management Ltd raised its stake in shares of CRH by 38.2% during the 4th quarter. Mirabaud Asset Management Ltd now owns 98,038 shares of the construction company’s stock worth $12,235,000 after buying an additional 27,118 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its position in shares of CRH by 3.3% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,337,447 shares of the construction company’s stock valued at $541,313,000 after buying an additional 137,048 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.
CRH Price Performance
Shares of NYSE:CRH opened at $102.96 on Monday. The business’s 50 day moving average price is $106.33 and its 200-day moving average price is $113.15. The firm has a market capitalization of $68.80 billion, a PE ratio of 19.07, a P/E/G ratio of 1.78 and a beta of 1.32. Crh Plc has a 1 year low of $92.66 and a 1 year high of $131.55.
CRH Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.5%. CRH’s dividend payout ratio is presently 28.89%.
Analyst Upgrades and Downgrades
CRH has been the topic of a number of research analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of CRH in a research note on Tuesday, June 23rd. Weiss Ratings cut shares of CRH from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Jefferies Financial Group increased their price objective on shares of CRH from $149.00 to $165.60 and gave the company a “buy” rating in a report on Friday, June 26th. Morgan Stanley reiterated an “overweight” rating and issued a $139.00 target price on shares of CRH in a research report on Wednesday, April 15th. Finally, Wells Fargo & Company cut their target price on shares of CRH from $135.00 to $132.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $141.19.
Read Our Latest Stock Report on CRH
About CRH
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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