Cannell & Spears LLC Raises Stock Holdings in CRH plc (NYSE:CRH)

Cannell & Spears LLC boosted its holdings in CRH plc (NYSE:CRH) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 853,966 shares of the construction company’s stock after purchasing an additional 5,603 shares during the period. CRH comprises 1.6% of Cannell & Spears LLC’s holdings, making the stock its 11th largest position. Cannell & Spears LLC’s holdings in CRH were worth $79,009,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Heck Capital Advisors LLC purchased a new position in shares of CRH in the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. boosted its stake in CRH by 214.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after acquiring an additional 240 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of CRH during the 4th quarter valued at approximately $38,000. Deseret Mutual Benefit Administrators increased its stake in shares of CRH by 87.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock worth $47,000 after purchasing an additional 236 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in shares of CRH in the 4th quarter worth approximately $57,000. Institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

CRH has been the subject of a number of recent research reports. Citigroup decreased their target price on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Berenberg Bank set a $120.00 price objective on CRH in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their target price on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Finally, StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $109.64.

CRH Price Performance

Shares of NYSE:CRH opened at $88.09 on Monday. The company has a market cap of $59.57 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.15 and a beta of 1.30. CRH plc has a one year low of $71.18 and a one year high of $110.97. The firm has a fifty day moving average price of $99.77 and a two-hundred day moving average price of $96.76.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.68%. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. CRH’s payout ratio is presently 15.51%.

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.