Miracle Mile Advisors LLC Buys New Holdings in CRH plc (NYSE:CRH)

Miracle Mile Advisors LLC purchased a new position in shares of CRH plc (NYSE:CRH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,541 shares of the construction company’s stock, valued at approximately $235,000.

A number of other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new stake in shares of CRH in the second quarter worth $206,000. Federated Hermes Inc. boosted its holdings in CRH by 3.4% in the second 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 during the last quarter. Dimensional Fund Advisors LP grew its position in CRH by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,099,866 shares of the construction company’s stock worth $157,365,000 after purchasing an additional 100,038 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of CRH by 24.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 20,431 shares of the construction company’s stock valued at $1,532,000 after buying an additional 4,050 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of CRH in the 2nd quarter valued at about $714,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on CRH shares. HSBC initiated coverage on CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 target price on the stock. Morgan Stanley lifted their target price on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Truist Financial boosted their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Citigroup dropped their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, DA Davidson upped their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $107.75.

CRH Stock Performance

Shares of CRH opened at $95.62 on Friday. The stock has a 50 day moving average price of $97.53 and a 200 day moving average price of $90.31. The stock has a market capitalization of $64.95 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.00 and a beta of 1.31. CRH plc has a one year low of $66.42 and a one year high of $104.23.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd were given a $0.262 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, November 22nd. CRH’s dividend payout ratio (DPR) is 21.00%.

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.