Victory Capital Management Inc. Grows Stock Holdings in CRH plc (NYSE:CRH)

Victory Capital Management Inc. raised its holdings in CRH plc (NYSE:CRH) by 6,859.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 191,105 shares of the construction company’s stock after acquiring an additional 188,359 shares during the period. Victory Capital Management Inc.’s holdings in CRH were worth $17,723,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Dupont Capital Management Corp purchased a new position in shares of CRH during the 1st quarter worth about $13,492,000. Blair William & Co. IL purchased a new position in CRH during the first quarter worth approximately $290,000. Lake Street Advisors Group LLC boosted its holdings in shares of CRH by 5.7% in the 1st quarter. Lake Street Advisors Group LLC now owns 8,545 shares of the construction company’s stock valued at $740,000 after purchasing an additional 459 shares during the last quarter. Pitcairn Co. purchased a new stake in shares of CRH during the 1st quarter valued at $241,000. Finally, LGT Group Foundation increased its holdings in shares of CRH by 7.5% during the 1st quarter. LGT Group Foundation now owns 19,300 shares of the construction company’s stock worth $1,665,000 after buying an additional 1,348 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

CRH has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. HSBC assumed coverage on CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 target price for the company. Barclays assumed coverage on shares of CRH in a report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target on the stock. Finally, DA Davidson boosted 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. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $105.55.

CRH Price Performance

Shares of CRH stock opened at $99.79 on Wednesday. The firm has a market capitalization of $67.78 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.44 and a beta of 1.29. The company’s fifty day moving average price is $93.36 and its two-hundred day moving average price is $85.25. CRH plc has a 12 month low of $58.57 and a 12 month high of $102.51.

CRH Cuts Dividend

The company also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be given a dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 22nd. CRH’s dividend payout ratio is currently 32.00%.

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.