Rockland Trust Co. Makes New $230,000 Investment in CRH plc (NYSE:CRH)

Rockland Trust Co. purchased a new stake in CRH plc (NYSE:CRH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,490 shares of the construction company’s stock, valued at approximately $230,000.

A number of other institutional investors also recently modified their holdings of the business. Deseret Mutual Benefit Administrators bought a new stake in CRH during the 3rd quarter valued at $25,000. UMB Bank n.a. raised its stake in shares of CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after purchasing an additional 125 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of CRH during the 3rd quarter valued at $35,000. Baillie Gifford & Co. lifted its holdings in CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares in the last quarter. Finally, Quarry LP bought a new position in CRH in the 2nd quarter worth about $49,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup lowered their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays began coverage on shares of CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price on the stock. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. Morgan Stanley increased their price objective on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $107.75.

CRH Price Performance

NYSE:CRH opened at $95.72 on Thursday. The company has a market capitalization of $65.01 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.24 and a beta of 1.29. The business has a 50 day moving average of $97.62 and a 200 day moving average of $90.28. CRH plc has a 1-year low of $66.42 and a 1-year high of $104.23.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd were issued a $0.262 dividend. The ex-dividend date was Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is 37.20%.

About CRH

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.