Peapack Gladstone Financial Corp Purchases Shares of 2,464 CRH plc (NYSE:CRH)

Peapack Gladstone Financial Corp bought a new stake in CRH plc (NYSE:CRH) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,464 shares of the construction company’s stock, valued at approximately $229,000.

Several other institutional investors also recently bought and sold shares of the stock. Grove Bank & Trust increased its stake in CRH by 9.5% in the 3rd quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock worth $132,000 after purchasing an additional 123 shares during the period. UMB Bank n.a. increased its stake in shares of CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after buying an additional 125 shares during the period. CVA Family Office LLC increased its stake in shares of CRH by 2.1% in the third quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock worth $567,000 after buying an additional 128 shares during the period. Lindbrook Capital LLC boosted its position in CRH by 2.9% during the 3rd quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock valued at $447,000 after buying an additional 135 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after acquiring an additional 162 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRH. JPMorgan Chase & Co. increased their target price on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Barclays began coverage on CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price objective on the stock. Hsbc Global Res raised CRH to a “strong-buy” rating in a research note on Monday, November 11th. Morgan Stanley boosted their price objective on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, HSBC began coverage on shares of CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price for the company. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $106.42.

CRH Trading Up 0.3 %

NYSE CRH opened at $98.21 on Tuesday. CRH plc has a 12 month low of $65.74 and a 12 month high of $104.23. The stock’s fifty day moving average price is $97.49 and its 200-day moving average price is $87.88. The stock has a market cap of $66.70 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.25 and a beta of 1.29.

CRH Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.262 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio is currently 21.00%.

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.