Manitou Investment Management Ltd. Grows Stock Position in CRH plc (NYSE:CRH)

Manitou Investment Management Ltd. raised its holdings in CRH plc (NYSE:CRH) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,203 shares of the construction company’s stock after acquiring an additional 160 shares during the period. CRH makes up approximately 0.2% of Manitou Investment Management Ltd.’s portfolio, making the stock its 19th biggest position. Manitou Investment Management Ltd.’s holdings in CRH were worth $1,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Arkadios Wealth Advisors increased its position in CRH by 4.9% during 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. Grove Bank & Trust grew its stake in shares of CRH by 9.5% during the 3rd quarter. Grove Bank & Trust now owns 1,419 shares of the construction company’s stock valued at $132,000 after buying an additional 123 shares during the period. UMB Bank n.a. increased its holdings in shares of CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after buying an additional 125 shares during the last quarter. CVA Family Office LLC raised its position in shares of CRH by 2.1% in the 3rd quarter. CVA Family Office LLC now owns 6,116 shares of the construction company’s stock worth $567,000 after buying an additional 128 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in CRH by 2.9% in the third quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock valued at $447,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CRH. JPMorgan Chase & Co. upped their price target on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Barclays assumed coverage on shares of CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price for the company. Morgan Stanley raised their price target on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Truist Financial raised 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. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $107.75.

CRH Price Performance

CRH stock opened at $100.42 on Friday. CRH plc has a 12-month low of $68.73 and a 12-month high of $104.23. The company has a market capitalization of $68.20 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. The firm’s fifty day moving average price is $97.28 and its 200 day moving average price is $91.19.

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 dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date was Friday, November 22nd. CRH’s payout ratio is 21.00%.

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.