Moran Wealth Management LLC Invests $206,000 in CRH plc (NYSE:CRH)

Moran Wealth Management LLC acquired a new stake in CRH plc (NYSE:CRH) during the 4th quarter, Holdings Channel reports. The fund acquired 2,225 shares of the construction company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of CRH by 7.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company’s stock valued at $144,605,000 after purchasing an additional 114,072 shares in the last quarter. Park Avenue Securities LLC lifted 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 acquiring an additional 5,889 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in CRH by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company’s stock worth $226,732,000 after acquiring an additional 232,977 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of 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 acquiring an additional 5,610 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of CRH by 19.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company’s stock valued at $6,733,000 after purchasing an additional 12,076 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Trading Up 4.0 %

CRH stock opened at $98.46 on Thursday. CRH plc has a 1-year low of $71.18 and a 1-year high of $110.97. The business’s 50 day simple moving average is $99.25 and its 200 day simple moving average is $95.99. The firm has a market capitalization of $66.65 billion, a PE ratio of 19.69, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be issued a $0.37 dividend. This is an increase from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, March 14th. CRH’s payout ratio is currently 20.87%.

Analyst Upgrades and Downgrades

CRH has been the subject of several recent research reports. Citigroup reduced their target price on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Berenberg Bank set a $120.00 target price on CRH in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. reduced their price target on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $109.25.

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.