Pitcairn Co. Raises Stock Holdings in CRH plc (NYSE:CRH)

Pitcairn Co. increased its holdings in shares of CRH plc (NYSE:CRH) by 116.8% in the third quarter, Holdings Channel.com reports. The fund owned 5,963 shares of the construction company’s stock after buying an additional 3,212 shares during the quarter. Pitcairn Co.’s holdings in CRH were worth $553,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Dupont Capital Management Corp bought a new stake in shares of CRH during the first quarter worth $13,492,000. B. Riley Wealth Advisors Inc. lifted its holdings in CRH by 29.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,361 shares of the construction company’s stock valued at $807,000 after buying an additional 2,115 shares in the last quarter. Levin Capital Strategies L.P. purchased a new stake in CRH in the 1st quarter valued at about $216,000. Zimmer Partners LP bought a new position in CRH in the 1st quarter worth about $11,700,000. Finally, Woodson Capital Management LP purchased a new position in shares of CRH during the first quarter worth approximately $13,853,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CRH shares. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. DA Davidson increased their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley lifted their price objective on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. HSBC began coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CRH presently has a consensus rating of “Buy” and an average target price of $106.42.

CRH Stock Performance

Shares of NYSE CRH opened at $102.86 on Tuesday. CRH plc has a fifty-two week low of $61.51 and a fifty-two week high of $103.64. The company has a market cap of $69.86 billion, a PE ratio of 20.57, a P/E/G ratio of 1.28 and a beta of 1.29. The business has a 50-day simple moving average of $94.49 and a two-hundred day simple moving average of $85.83.

CRH Cuts Dividend

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

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.