New England Asset Management Inc. Acquires 10,383 Shares of CRH plc (NYSE:CRH)

New England Asset Management Inc. raised its holdings in shares of CRH plc (NYSE:CRH) by 19.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,351 shares of the construction company’s stock after buying an additional 10,383 shares during the period. New England Asset Management Inc.’s holdings in CRH were worth $5,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GHP Investment Advisors Inc. boosted its holdings in CRH by 336.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after acquiring an additional 259 shares during the period. Deseret Mutual Benefit Administrators purchased a new stake in shares of CRH during the third quarter valued at approximately $25,000. UMB Bank n.a. grew its holdings 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 worth $28,000 after purchasing an additional 125 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after buying an additional 162 shares during the period. Finally, Rothschild Investment LLC bought a new stake in CRH during the 2nd quarter valued at $43,000. 62.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CRH. HSBC initiated coverage on shares of CRH in a report on Monday, November 11th. They issued a “buy” rating and a $116.00 price target on the stock. Morgan Stanley raised their target price on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. DA Davidson increased their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Hsbc Global Res raised CRH to a “strong-buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CRH has an average rating of “Buy” and an average target price of $105.55.

CRH Stock Up 1.4 %

Shares of CRH stock opened at $99.66 on Tuesday. The stock has a market cap of $67.69 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.43 and a beta of 1.29. The business’s fifty day moving average is $93.07 and its 200 day moving average is $85.11. CRH plc has a twelve month low of $58.57 and a twelve month high of $102.51.

CRH Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be given a dividend of $0.262 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio (DPR) is currently 32.00%.

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.