CRH plc (NYSE:CRH) Shares Purchased by Morse Asset Management Inc

Morse Asset Management Inc grew its position in shares of CRH plc (NYSE:CRH) by 86.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,694 shares of the construction company’s stock after purchasing an additional 17,897 shares during the period. Morse Asset Management Inc’s holdings in CRH were worth $3,338,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in CRH by 17.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 914 shares of the construction company’s stock worth $79,000 after purchasing an additional 133 shares in the last quarter. Janiczek Wealth Management LLC lifted its stake in CRH by 3.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 4,748 shares of the construction company’s stock worth $329,000 after purchasing an additional 155 shares in the last quarter. NBC Securities Inc. lifted its stake in CRH by 71.5% during the first quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock worth $35,000 after purchasing an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in CRH by 30.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company’s stock worth $54,000 after purchasing an additional 183 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in CRH by 25.6% during the fourth quarter. Allworth Financial LP now owns 975 shares of the construction company’s stock worth $67,000 after purchasing an additional 199 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on CRH shares. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $87.00 to $88.00 in a research note on Tuesday, July 9th. StockNews.com lowered CRH from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 13th. Truist Financial upped their price objective on CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Citigroup cut their price objective on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Stephens began coverage on CRH in a research report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.90.

CRH Stock Performance

NYSE:CRH traded up $1.99 during trading hours on Friday, hitting $81.55. The company’s stock had a trading volume of 2,793,692 shares, compared to its average volume of 6,184,585. The stock has a fifty day moving average of $78.07 and a 200-day moving average of $78.63. CRH plc has a 52-week low of $51.59 and a 52-week high of $88.00.

CRH (NYSE:CRH) last posted its earnings results on Friday, May 10th. The construction company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. The business had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.60 billion. On average, sell-side analysts anticipate that CRH plc will post 5.39 earnings per share for the current fiscal year.

CRH Increases Dividend

The company also recently disclosed a Variable dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, May 24th were issued a dividend of $0.35 per share. This is a positive change from CRH’s previous Variable dividend of $0.23. The ex-dividend date was Thursday, May 23rd. This represents a dividend yield of 1.7%.

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.