Merit Financial Group LLC Takes $457,000 Position in CRH plc (NYSE:CRH)

Merit Financial Group LLC purchased a new position in shares of CRH plc (NYSE:CRH) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,607 shares of the construction company’s stock, valued at approximately $457,000.

Other large investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in CRH by 38.3% during the third quarter. Commonwealth Equity Services LLC now owns 13,046 shares of the construction company’s stock worth $714,000 after purchasing an additional 3,612 shares during the period. Brown Advisory Inc. boosted its holdings in CRH by 166.5% in the 3rd quarter. Brown Advisory Inc. now owns 149,944 shares of the construction company’s stock worth $8,206,000 after buying an additional 93,675 shares during the period. Advisor Partners II LLC grew its stake in CRH by 24.5% in the 3rd quarter. Advisor Partners II LLC now owns 13,064 shares of the construction company’s stock valued at $714,000 after buying an additional 2,568 shares in the last quarter. Inspire Investing LLC raised its holdings in CRH by 3.6% during the 3rd quarter. Inspire Investing LLC now owns 11,712 shares of the construction company’s stock valued at $641,000 after acquiring an additional 409 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new stake in shares of CRH during the third quarter worth $27,786,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRH shares. Citigroup lifted their price target on CRH from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, April 5th. StockNews.com upgraded shares of CRH from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. Vertical Research assumed coverage on shares of CRH in a report on Friday, March 22nd. They issued a “buy” rating and a $105.00 price target for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $82.00 price objective (up previously from $80.00) on shares of CRH in a research report on Monday, April 15th. Finally, Jefferies Financial Group increased their price objective on CRH from $89.70 to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.31.

CRH Price Performance

CRH opened at $80.93 on Wednesday. CRH plc has a 52 week low of $47.14 and a 52 week high of $88.00. The business’s fifty day simple moving average is $82.40 and its 200 day simple moving average is $72.07.

CRH (NYSE:CRH) last released its earnings results on Thursday, February 29th. The construction company reported $1.29 EPS for the quarter. The firm had revenue of $8.69 billion during the quarter. As a group, analysts expect that CRH plc will post 5.36 EPS for the current fiscal year.

CRH Dividend Announcement

The company also recently announced a Variable dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 15th were paid a $0.262 dividend. The ex-dividend date was Thursday, March 14th. This represents a yield of 2%.

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.