Rockland Trust Co. Buys New Holdings in CRH plc (NYSE:CRH)

Rockland Trust Co. bought a new position in CRH plc (NYSE:CRH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,490 shares of the construction company’s stock, valued at approximately $230,000.

A number of other hedge funds have also recently modified their holdings of CRH. FMR LLC boosted its holdings in shares of CRH by 33.4% during the third quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after purchasing an additional 9,055,354 shares during the period. Franklin Resources Inc. boosted its holdings in CRH by 8.7% in the third quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock valued at $1,329,796,000 after acquiring an additional 1,148,708 shares in the last quarter. State Street Corp raised its holdings in CRH by 4.9% in the 3rd quarter. State Street Corp now owns 13,139,233 shares of the construction company’s stock worth $1,218,532,000 after purchasing an additional 618,786 shares in the last quarter. Greenhaven Associates Inc. lifted its position in shares of CRH by 0.3% in the 3rd quarter. Greenhaven Associates Inc. now owns 11,155,273 shares of the construction company’s stock worth $1,034,540,000 after purchasing an additional 35,209 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of CRH by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,985,356 shares of the construction company’s stock valued at $738,113,000 after purchasing an additional 165,825 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

NYSE CRH opened at $95.72 on Thursday. CRH plc has a one year low of $66.42 and a one year high of $104.23. The stock has a 50-day moving average of $97.62 and a 200 day moving average of $90.28. The company has a market capitalization of $65.01 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.24 and a beta of 1.29.

CRH Cuts Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on CRH shares. Morgan Stanley raised their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. DA Davidson upped their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a report on Monday, November 11th. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $107.75.

About CRH

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.