Pitcairn Co. Buys New Position in CRH plc (NYSE:CRH)

Pitcairn Co. bought a new stake in shares of CRH plc (NYSE:CRH) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 2,795 shares of the construction company’s stock, valued at approximately $241,000.

Other hedge funds have also modified their holdings of the company. Lake Street Advisors Group LLC grew its stake in CRH by 5.7% during the 1st quarter. Lake Street Advisors Group LLC now owns 8,545 shares of the construction company’s stock valued at $740,000 after purchasing an additional 459 shares in the last quarter. Bessemer Group Inc. grew its stake in CRH by 83.7% during the 1st quarter. Bessemer Group Inc. now owns 3,431,941 shares of the construction company’s stock valued at $296,037,000 after purchasing an additional 1,563,684 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in CRH by 17.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 103,098 shares of the construction company’s stock valued at $8,893,000 after purchasing an additional 15,283 shares in the last quarter. United American Securities Inc. d b a UAS Asset Management acquired a new stake in CRH during the 1st quarter valued at approximately $3,196,000. Finally, Blue Barn Wealth LLC acquired a new stake in CRH during the 1st quarter valued at approximately $206,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Stock Up 1.5 %

Shares of CRH stock opened at $80.77 on Friday. The business’s fifty day moving average price is $78.08 and its two-hundred day moving average price is $78.41. CRH plc has a 1-year low of $51.59 and a 1-year high of $88.00.

CRH (NYSE:CRH) last posted its quarterly earnings data on Friday, May 10th. The construction company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.60 billion. On average, analysts predict that CRH plc will post 5.39 EPS for the current fiscal year.

CRH Increases Dividend

The business also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, May 24th were issued a $0.35 dividend. This represents a dividend yield of 1.7%. This is a boost from CRH’s previous Variable dividend of $0.23. The ex-dividend date was Thursday, May 23rd.

Wall Street Analyst Weigh In

CRH has been the subject of several research reports. Citigroup decreased their target price on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Stifel Nicolaus reiterated a “hold” rating and issued a $82.00 target price (up previously from $80.00) on shares of CRH in a research report on Monday, April 15th. Royal Bank of Canada initiated coverage on CRH in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $110.00 target price for the company. Truist Financial lifted their target price on CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Stephens initiated coverage on CRH in a research report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.90.

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.