CRH plc (NYSE:CRH) Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in shares of CRH plc (NYSE:CRHFree Report) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the construction company’s stock after buying an additional 1,000 shares during the quarter. Gabelli Funds LLC’s holdings in CRH were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CRH. Vanguard Group Inc. acquired a new stake in shares of CRH during the third quarter worth approximately $1,484,901,000. Norges Bank bought a new position in CRH during the fourth quarter worth $1,014,454,000. Invesco Ltd. lifted its stake in CRH by 1,136.3% during the third quarter. Invesco Ltd. now owns 8,587,277 shares of the construction company’s stock worth $469,982,000 after purchasing an additional 7,892,691 shares during the last quarter. Wellington Management Group LLP bought a new position in CRH during the third quarter worth $416,982,000. Finally, JPMorgan Chase & Co. lifted its stake in CRH by 4,713.7% during the third quarter. JPMorgan Chase & Co. now owns 6,713,303 shares of the construction company’s stock worth $367,419,000 after purchasing an additional 6,573,842 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

CRH has been the topic of several research analyst reports. Stifel Nicolaus restated a “hold” rating and set a $82.00 price objective (up from $80.00) on shares of CRH in a research note on Monday, April 15th. Royal Bank of Canada initiated coverage on CRH in a research note on Tuesday, May 14th. They set an “outperform” rating and a $110.00 price objective on the stock. Truist Financial raised their price objective on CRH from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Jefferies Financial Group raised their target price on CRH from $89.70 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Citigroup raised their target price on CRH from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, CRH presently has a consensus rating of “Moderate Buy” and an average target price of $83.28.

View Our Latest Research Report on CRH

CRH Stock Performance

Shares of NYSE CRH opened at $79.42 on Tuesday. CRH plc has a fifty-two week low of $48.91 and a fifty-two week high of $88.00. The firm’s 50-day simple moving average is $80.65 and its 200 day simple moving average is $75.98.

CRH (NYSE:CRHGet Free Report) last issued its quarterly earnings data on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The company had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.60 billion. On average, sell-side analysts expect that CRH plc will post 5.36 EPS for the current fiscal year.

CRH Increases Dividend

The business also recently disclosed a Variable dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, May 24th will be paid a dividend of $0.35 per share. This is a boost from CRH’s previous Variable dividend of $0.23. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, May 23rd.

CRH Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CRH (NYSE:CRH)

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