Beach Investment Counsel Inc. PA Raises Stock Holdings in CRH plc (NYSE:CRH)

by · The Markets Daily

Beach Investment Counsel Inc. PA raised its holdings in CRH plc (NYSE:CRH – Free Report) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 180,874 shares of the construction company’s stock after buying an additional 15,108 shares during the quarter. CRH comprises 1.5% of Beach Investment Counsel Inc. PA’s investment portfolio, making the stock its 18th largest position. Beach Investment Counsel Inc. PA’s holdings in CRH were worth $12,509,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. RNC Capital Management LLC raised its stake in CRH by 6.6% during the third quarter. RNC Capital Management LLC now owns 396,695 shares of the construction company’s stock valued at $21,711,000 after buying an additional 24,716 shares during the last quarter. Vanguard Group Inc. bought a new position in shares of CRH during the 3rd quarter valued at $1,484,901,000. Hudson Bay Capital Management LP purchased a new position in CRH in the third quarter worth about $3,284,000. Citigroup Inc. lifted its holdings in CRH by 6,147.4% during the third quarter. Citigroup Inc. now owns 2,883,936 shares of the construction company’s stock valued at $157,838,000 after purchasing an additional 2,837,774 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of CRH by 143.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 9,361 shares of the construction company’s stock valued at $512,000 after purchasing an additional 5,508 shares during the period. 8.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRH has been the subject of several research reports. Truist Financial increased their price objective on shares of CRH from $81.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, March 4th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Friday, February 16th. DA Davidson assumed coverage on CRH in a report on Friday, January 19th. They set a “buy” rating and a $82.00 price target on the stock. Finally, Jefferies Financial Group lifted their price objective on shares of CRH from $89.70 to $100.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.58.

View Our Latest Research Report on CRH

CRH Stock Performance

NYSE:CRH traded up $0.05 during midday trading on Thursday, reaching $84.41. 1,568,503 shares of the stock traded hands, compared to its average volume of 3,937,661. The stock has a market capitalization of $58.22 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.21 and a beta of 1.28. CRH plc has a 12-month low of $46.84 and a 12-month high of $84.91. The business has a 50-day moving average of $74.65 and a two-hundred day moving average of $64.72.

CRH Announces Dividend

The company also recently declared a Variable dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, March 15th will be given a dividend of $0.262 per share. The ex-dividend date is Thursday, March 14th. This represents a yield of 2%. CRH’s dividend payout ratio is currently 40.43%.

CRH Company Profile

(Free Report)

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.

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