Industrial Alliance Investment Management Inc. Takes Position in CRH plc (NYSE:CRH)

Industrial Alliance Investment Management Inc. acquired a new position in shares of CRH plc (NYSE:CRH) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 900 shares of the construction company’s stock, valued at approximately $67,000.

Other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in CRH by 17.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 914 shares of the construction company’s stock worth $79,000 after purchasing an additional 133 shares during the last quarter. Janiczek Wealth Management LLC boosted its position in shares of CRH by 3.4% during the first quarter. Janiczek Wealth Management LLC now owns 4,908 shares of the construction company’s stock worth $423,000 after buying an additional 160 shares during the period. NBC Securities Inc. grew its holdings in CRH by 71.5% in the 1st quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock worth $35,000 after buying an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in CRH by 30.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company’s stock valued at $54,000 after acquiring an additional 183 shares during the period. Finally, Orion Capital Management LLC raised its stake in CRH by 100.0% during the 4th quarter. Orion Capital Management LLC now owns 400 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRH. Royal Bank of Canada assumed coverage on CRH in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 price target for the company. Truist Financial increased their target price on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 9th. StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Citigroup decreased their price objective on shares of CRH from $109.00 to $99.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $87.00 to $88.00 in a research note on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CRH has an average rating of “Moderate Buy” and an average target price of $95.70.

CRH Trading Up 2.7 %

CRH stock traded up $2.42 on Friday, hitting $90.73. 6,967,266 shares of the company’s stock traded hands, compared to its average volume of 5,215,731. The stock has a market cap of $62.30 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.34 and a beta of 1.30. CRH plc has a 1-year low of $51.59 and a 1-year high of $91.02. The stock has a fifty day moving average of $80.44 and a 200-day moving average of $80.72.

CRH (NYSE:CRH) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting analysts’ consensus estimates of $1.85. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, equities research analysts anticipate that CRH plc will post 5.39 earnings per share for the current fiscal year.

CRH Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a dividend yield of 1.7%. CRH’s dividend payout ratio (DPR) is 29.97%.

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.