CenterBook Partners LP Makes New Investment in CRH plc (NYSE:CRH)

CenterBook Partners LP bought a new stake in CRH plc (NYSE:CRH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,294 shares of the construction company’s stock, valued at approximately $1,045,000.

Other large investors also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in CRH in the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. grew its holdings in shares of 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 in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of CRH during the fourth quarter valued at approximately $38,000. Deseret Mutual Benefit Administrators increased its position in shares of CRH by 87.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock valued at $47,000 after acquiring an additional 236 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in CRH during the fourth quarter worth $57,000. 62.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup reduced their price objective on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price target 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. Berenberg Bank set a $120.00 price objective on shares of CRH in a research report on Friday, February 28th. Loop Capital initiated coverage on shares of CRH in a research note on Wednesday. They issued a “buy” rating and a $114.00 target price on the stock. 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, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $110.00.

CRH Trading Up 1.8 %

Shares of CRH stock opened at $84.75 on Friday. The firm’s 50 day moving average is $96.40 and its 200 day moving average is $96.24. The stock has a market capitalization of $57.31 billion, a P/E ratio of 16.95, a PEG ratio of 1.15 and a beta of 1.30. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97.

CRH Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.75%. This is an increase from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is currently 22.66%.

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.