Riverbend Wealth Management LLC Makes New Investment in CRH plc (NYSE:CRH)

Riverbend Wealth Management LLC bought a new stake in shares of CRH plc (NYSE:CRH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,538 shares of the construction company’s stock, valued at approximately $605,000.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in 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 buying an additional 9,055,354 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of CRH by 515.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock valued at $473,270,000 after acquiring an additional 4,274,336 shares during the period. Franklin Resources Inc. increased its stake in shares of CRH by 8.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock worth $1,329,796,000 after purchasing an additional 1,148,708 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CRH by 10.6% in the 4th quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock worth $796,546,000 after purchasing an additional 826,758 shares during the period. Finally, Nordea Investment Management AB lifted its stake in CRH by 48.2% in the fourth quarter. Nordea Investment Management AB now owns 2,484,746 shares of the construction company’s stock valued at $231,206,000 after purchasing an additional 808,061 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CRH. Berenberg Bank set a $120.00 target price on CRH in a research report on Friday, February 28th. DA Davidson lifted their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Citigroup dropped their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. HSBC started coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $109.42.

CRH Price Performance

Shares of NYSE:CRH opened at $93.71 on Tuesday. The firm has a fifty day moving average price of $99.09 and a two-hundred day moving average price of $95.94. The company has a market cap of $63.65 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.15 and a beta of 1.30. CRH plc has a one year low of $71.18 and a one year high of $110.97.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.58%. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, March 14th. CRH’s payout ratio is presently 20.87%.

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.