Pallas Capital Advisors LLC Takes Position in CRH plc (NYSE:CRH)

Pallas Capital Advisors LLC bought a new stake in CRH plc (NYSE:CRH) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,664 shares of the construction company’s stock, valued at approximately $246,000.

A number of other institutional investors have also modified their holdings of CRH. Victory Capital Management Inc. acquired a new stake in shares of CRH in the 2nd quarter valued at about $206,000. Federated Hermes Inc. raised its stake in shares of CRH by 3.4% in the 2nd quarter. Federated Hermes Inc. now owns 76,087 shares of the construction company’s stock valued at $5,705,000 after purchasing an additional 2,500 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of CRH by 2.9% in the 2nd quarter. Parallel Advisors LLC now owns 7,450 shares of the construction company’s stock valued at $559,000 after purchasing an additional 213 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of CRH by 5.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 987,547 shares of the construction company’s stock valued at $73,969,000 after purchasing an additional 47,113 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of CRH by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,099,866 shares of the construction company’s stock valued at $157,365,000 after purchasing an additional 100,038 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Price Performance

NYSE CRH opened at $95.72 on Thursday. CRH plc has a 12 month low of $66.42 and a 12 month high of $104.23. The firm has a market capitalization of $65.01 billion, a PE ratio of 19.14, a P/E/G ratio of 1.24 and a beta of 1.29. The company’s 50 day simple moving average is $97.62 and its 200 day simple moving average is $90.28.

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 paid a dividend of $0.262 per share. The ex-dividend date was Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio is presently 37.20%.

Wall Street Analyst Weigh In

CRH has been the topic of several research reports. Barclays initiated coverage on shares of CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective on the stock. HSBC initiated coverage on shares of CRH in a research note on Monday, November 11th. They set a “buy” rating and a $116.00 price objective on the stock. DA Davidson increased their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price objective 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. Finally, 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 research note on Monday, January 6th. One 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. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $107.75.

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.