Thoroughbred Financial Services LLC Buys Shares of 9,921 CRH plc (NYSE:CRH)

Thoroughbred Financial Services LLC purchased a new stake in CRH plc (NYSE:CRH) during the 4th quarter, Holdings Channel reports. The fund purchased 9,921 shares of the construction company’s stock, valued at approximately $917,000.

A number of other hedge funds have also modified their holdings of the business. Bornite Capital Management LP acquired a new stake in CRH during the 4th quarter valued at $13,878,000. Pitcairn Co. boosted its stake in shares of CRH by 8.8% during the fourth quarter. Pitcairn Co. now owns 6,488 shares of the construction company’s stock valued at $600,000 after acquiring an additional 525 shares during the last quarter. World Investment Advisors increased its position in CRH by 13.4% during the 4th quarter. World Investment Advisors now owns 2,558 shares of the construction company’s stock worth $237,000 after purchasing an additional 302 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in CRH by 12.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,195,372 shares of the construction company’s stock valued at $665,716,000 after purchasing an additional 820,479 shares during the last quarter. Finally, RFG Bristol Wealth Advisors LLC purchased a new position in CRH in the 4th quarter valued at about $986,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Price Performance

NYSE CRH opened at $80.63 on Friday. The business’s 50-day simple moving average is $98.48 and its 200-day simple moving average is $96.66. The firm has a market capitalization of $54.53 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.15 and a beta of 1.30. CRH plc has a 1-year low of $71.18 and a 1-year high of $110.97.

CRH Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This is an increase from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, March 14th. CRH’s payout ratio is currently 22.66%.

Analysts Set New Price Targets

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

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.