Choate Investment Advisors Increases Stock Holdings in CRH plc (NYSE:CRH)

Choate Investment Advisors boosted its holdings in CRH plc (NYSE:CRH) by 38.7% during the 4th quarter, Holdings Channel reports. The firm owned 3,245 shares of the construction company’s stock after acquiring an additional 905 shares during the period. Choate Investment Advisors’ holdings in CRH were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Arkadios Wealth Advisors boosted its position in CRH by 4.9% in the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock worth $216,000 after purchasing an additional 109 shares during the last quarter. First Eagle Investment Management LLC boosted its position in CRH by 3.2% in the fourth quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock worth $405,000 after purchasing an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in CRH by 18.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock worth $90,000 after purchasing an additional 150 shares during the last quarter. Manitou Investment Management Ltd. boosted its position in CRH by 1.4% in the fourth quarter. Manitou Investment Management Ltd. now owns 11,203 shares of the construction company’s stock worth $1,037,000 after purchasing an additional 160 shares during the last quarter. Finally, Graypoint LLC boosted its position in CRH by 5.4% in the fourth quarter. Graypoint LLC now owns 3,315 shares of the construction company’s stock worth $307,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRH shares. JPMorgan Chase & Co. cut their price objective on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Citigroup lowered their target price on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Berenberg Bank set a $120.00 target price on CRH in a research note on Friday, February 28th. Finally, StockNews.com upgraded 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, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CRH has a consensus rating of “Buy” and a consensus price target of $109.25.

CRH Stock Performance

NYSE:CRH opened at $97.40 on Tuesday. CRH plc has a 52-week low of $71.18 and a 52-week high of $110.97. The firm has a market cap of $65.93 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.15 and a beta of 1.30. The business’s fifty day moving average is $99.45 and its 200 day moving average is $96.21.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.52%. This is a positive change from CRH’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, March 14th. CRH’s payout ratio is presently 15.51%.

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.