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

Riverbend Wealth Management LLC acquired a new stake in shares of CRH plc (NYSE:CRH) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,538 shares of the construction company’s stock, valued at approximately $605,000.

A number of other hedge funds also recently made changes to their positions in the stock. Arkadios Wealth Advisors lifted its stake in CRH by 4.9% in the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock worth $216,000 after purchasing an additional 109 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of CRH by 18.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock worth $90,000 after buying an additional 150 shares during the period. Manitou Investment Management Ltd. lifted its stake in shares of CRH by 1.4% in the 4th quarter. Manitou Investment Management Ltd. now owns 11,203 shares of the construction company’s stock valued at $1,037,000 after acquiring an additional 160 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after acquiring an additional 162 shares during the period. Finally, Graypoint LLC grew its position in CRH by 5.4% during the 4th quarter. Graypoint LLC now owns 3,315 shares of the construction company’s stock worth $307,000 after acquiring an additional 170 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRH has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. HSBC started coverage on shares of CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price target for the company. Morgan Stanley boosted their price objective on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Finally, Citigroup reduced their price target on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $109.42.

CRH Stock Performance

Shares of NYSE:CRH opened at $93.71 on Tuesday. The firm has a market capitalization of $63.65 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.15 and a beta of 1.30. The stock has a 50 day moving average price of $99.09 and a 200-day moving average price of $95.94. CRH plc has a 52-week low of $71.18 and a 52-week high of $110.97.

CRH Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. CRH’s dividend payout ratio is 20.87%.

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.