Cannon Global Investment Management LLC Grows Stock Position in CRH plc (NYSE:CRH)

Cannon Global Investment Management LLC increased its holdings in shares of CRH plc (NYSE:CRH) by 50.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,800 shares of the construction company’s stock after purchasing an additional 3,300 shares during the period. CRH makes up 2.3% of Cannon Global Investment Management LLC’s portfolio, making the stock its 8th biggest position. Cannon Global Investment Management LLC’s holdings in CRH were worth $845,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. First Financial Corp IN acquired a new stake in CRH in the 1st quarter valued at approximately $26,000. Orion Capital Management LLC raised its position in CRH by 100.0% in the 4th quarter. Orion Capital Management LLC now owns 400 shares of the construction company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in CRH in the 4th quarter valued at approximately $30,000. UMB Bank n.a. acquired a new stake in CRH in the 4th quarter valued at approximately $33,000. Finally, WASHINGTON TRUST Co acquired a new stake in CRH in the 4th quarter valued at approximately $35,000. Institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Vertical Research assumed coverage on CRH in a research report on Friday, March 22nd. They set a “buy” rating and a $105.00 price target on the stock. Jefferies Financial Group boosted their price target on CRH from $89.70 to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Stifel Nicolaus reaffirmed a “hold” rating and set a $82.00 price target (up previously from $80.00) on shares of CRH in a research report on Monday, April 15th. Royal Bank of Canada assumed coverage on CRH in a research report on Tuesday, May 14th. They set an “outperform” rating and a $110.00 price target on the stock. Finally, Truist Financial boosted their price target on CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.11.

CRH Trading Up 0.6 %

Shares of NYSE:CRH traded up $0.48 during trading on Friday, reaching $74.98. 38,170,117 shares of the stock were exchanged, compared to its average volume of 13,211,468. CRH plc has a 12 month low of $51.59 and a 12 month high of $88.00. The stock has a 50-day moving average price of $78.99 and a 200-day moving average price of $77.17.

CRH (NYSE:CRH) last announced its earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.60 billion. As a group, equities research analysts forecast that CRH plc will post 5.36 earnings per share for the current year.

CRH Increases Dividend

The company also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, May 24th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, May 23rd. This represents a dividend yield of 1.7%. This is a positive change from CRH’s previous Variable dividend of $0.23.

CRH Company 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.