Pitcairn Co. Grows Holdings in CRH plc (NYSE:CRH)

Pitcairn Co. raised its position in shares of CRH plc (NYSE:CRH) by 116.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,963 shares of the construction company’s stock after purchasing an additional 3,212 shares during the quarter. Pitcairn Co.’s holdings in CRH were worth $553,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CRH. Grove Bank & Trust lifted its stake in shares of CRH by 9.5% during the 3rd quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock valued at $132,000 after buying an additional 123 shares in the last quarter. UMB Bank n.a. lifted its position in shares of CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after acquiring an additional 125 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of CRH by 2.1% in the third quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock worth $567,000 after acquiring an additional 128 shares during the period. Lindbrook Capital LLC grew its position in shares of CRH by 2.9% during the third quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock worth $447,000 after purchasing an additional 135 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares during the period. 62.50% of the stock is currently owned by institutional investors.

CRH Stock Performance

NYSE:CRH opened at $102.86 on Tuesday. The firm has a market capitalization of $69.86 billion, a PE ratio of 20.57, a PEG ratio of 1.28 and a beta of 1.29. The stock’s fifty day moving average is $94.49 and its 200 day moving average is $85.83. CRH plc has a fifty-two week low of $61.51 and a fifty-two week high of $103.64.

CRH Cuts Dividend

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

Wall Street Analyst Weigh In

CRH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Barclays started coverage on shares of CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price for the company. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. DA Davidson lifted their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, HSBC began coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $106.42.

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.