Manitou Investment Management Ltd. Raises Stake in CRH plc (NYSE:CRH)

Manitou Investment Management Ltd. raised its holdings in CRH plc (NYSE:CRH) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,203 shares of the construction company’s stock after purchasing an additional 160 shares during the quarter. CRH comprises approximately 0.2% of Manitou Investment Management Ltd.’s portfolio, making the stock its 19th largest holding. Manitou Investment Management Ltd.’s holdings in CRH were worth $1,037,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CRH. Park Avenue Securities LLC increased its stake in CRH by 22.1% in the 4th quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company’s stock valued at $3,012,000 after buying an additional 5,889 shares during the period. Merit Financial Group LLC increased its position in CRH by 31.8% during the 4th quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company’s stock worth $2,151,000 after purchasing an additional 5,610 shares during the period. Nordea Investment Management AB raised its stake in shares of CRH by 48.2% during the 4th quarter. Nordea Investment Management AB now owns 2,484,746 shares of the construction company’s stock worth $231,206,000 after buying an additional 808,061 shares in the last quarter. Tidal Investments LLC grew its holdings in CRH by 168.7% during the third quarter. Tidal Investments LLC now owns 22,089 shares of the construction company’s stock worth $2,049,000 after acquiring an additional 13,868 shares during the period. Finally, Transform Wealth LLC raised its position in CRH by 10.9% in the fourth quarter. Transform Wealth LLC now owns 125,736 shares of the construction company’s stock worth $11,633,000 after acquiring an additional 12,363 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research report on Monday, November 11th. Truist Financial lifted their price target on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, Barclays assumed coverage on CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $107.75.

CRH Stock Performance

CRH stock opened at $100.42 on Friday. CRH plc has a fifty-two week low of $68.73 and a fifty-two week high of $104.23. The stock has a fifty day moving average of $97.28 and a two-hundred day moving average of $91.19. The company has a market capitalization of $68.20 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.09 and a beta of 1.31.

CRH Cuts Dividend

The business also recently disclosed a Variable dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 22nd were given a dividend of $0.262 per share. This represents a yield of 1.4%. The ex-dividend date was Friday, November 22nd. CRH’s dividend payout ratio is presently 21.00%.

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.