PCJ Investment Counsel Ltd. Makes New $24.85 Million Investment in CRH plc (NYSE:CRH)

PCJ Investment Counsel Ltd. bought a new position in CRH plc (NYSE:CRH) during the third quarter, Holdings Channel.com reports. The fund bought 268,000 shares of the construction company’s stock, valued at approximately $24,854,000. CRH comprises approximately 7.9% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 2nd biggest holding.

A number of other hedge funds have also added to or reduced their stakes in CRH. GHP Investment Advisors Inc. grew its stake in CRH by 336.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after acquiring an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators bought a new position in CRH in the 3rd quarter worth about $25,000. UMB Bank n.a. boosted its stake in shares of CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of CRH during the third quarter valued at approximately $35,000. Finally, Baillie Gifford & Co. increased its holdings in CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after buying an additional 162 shares during the period. 62.50% of the stock is currently owned by institutional investors.

CRH Trading Up 0.1 %

NYSE:CRH opened at $99.79 on Wednesday. CRH plc has a 12 month low of $58.57 and a 12 month high of $102.51. The firm has a fifty day simple moving average of $93.36 and a 200-day simple moving average of $85.25. The company has a market capitalization of $67.78 billion, a P/E ratio of 19.96, a PEG ratio of 1.44 and a beta of 1.29.

CRH Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.262 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s payout ratio is currently 37.20%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays assumed coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective on the stock. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. DA Davidson lifted their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, HSBC assumed coverage on shares of CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 price objective on the stock. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $105.55.

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.