Northwest & Ethical Investments L.P. Takes Position in CRH plc (NYSE:CRH)

Northwest & Ethical Investments L.P. purchased a new position in CRH plc (NYSE:CRH) during the third quarter, Holdings Channel.com reports. The fund purchased 53,164 shares of the construction company’s stock, valued at approximately $4,930,000.

Several other institutional investors have also bought and sold shares of CRH. GHP Investment Advisors Inc. raised its stake in shares of CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after buying an additional 259 shares during the period. Deseret Mutual Benefit Administrators purchased a new stake in CRH in the 3rd quarter worth about $25,000. UMB Bank n.a. raised its stake in CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after acquiring an additional 125 shares during the period. Meeder Asset Management Inc. purchased a new stake in CRH during the third quarter valued at about $35,000. Finally, Baillie Gifford & Co. boosted its position in CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after purchasing an additional 162 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Down 0.9 %

NYSE:CRH opened at $101.94 on Friday. The stock has a market cap of $69.24 billion, a P/E ratio of 20.39, a PEG ratio of 1.30 and a beta of 1.29. The business’s 50-day moving average price is $95.18 and its two-hundred day moving average price is $86.18. CRH plc has a twelve month low of $61.51 and a twelve month high of $104.19.

CRH Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. HSBC started coverage on CRH in a report on Monday, November 11th. They issued a “buy” rating and a $116.00 price target for the company. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CRH currently has an average rating of “Buy” and an average target price of $106.42.

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.