Proficio Capital Partners LLC Takes $69,000 Position in CRH plc (NYSE:CRH)

Proficio Capital Partners LLC acquired a new position in shares of CRH plc (NYSE:CRH) during the 4th quarter, Holdings Channel reports. The firm acquired 68,650 shares of the construction company’s stock, valued at approximately $69,000.

Other hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of CRH by 515.7% during the third 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 worth $473,270,000 after buying an additional 4,274,336 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CRH by 8.7% during the third 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 period. Bank of New York Mellon Corp boosted its position in shares of CRH by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock valued at $796,546,000 after buying an additional 826,758 shares during the last quarter. Nordea Investment Management AB increased its stake in CRH by 48.2% in the 4th quarter. Nordea Investment Management AB now owns 2,484,746 shares of the construction company’s stock valued at $231,206,000 after buying an additional 808,061 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of CRH by 21.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,688,831 shares of the construction company’s stock worth $337,477,000 after buying an additional 649,993 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on CRH shares. Berenberg Bank set a $120.00 target price on CRH in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Citigroup decreased their target price on 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, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $109.64.

CRH Stock Down 4.4 %

Shares of CRH stock opened at $88.09 on Friday. The firm has a market cap of $59.57 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The business has a 50-day moving average price of $99.77 and a two-hundred day moving average price of $96.60. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 1.68%. This is a positive change from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is currently 15.51%.

CRH 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.