Norden Group LLC Buys Shares of 46,852 CRH plc (NYSE:CRH)

Norden Group LLC purchased a new position in shares of CRH plc (NYSE:CRH) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,852 shares of the construction company’s stock, valued at approximately $4,041,000.

Other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its position in CRH by 17.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 914 shares of the construction company’s stock worth $79,000 after buying an additional 133 shares during the last quarter. Janiczek Wealth Management LLC raised its holdings in CRH by 3.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 4,748 shares of the construction company’s stock worth $329,000 after purchasing an additional 155 shares in the last quarter. NBC Securities Inc. lifted its position in CRH by 71.5% in the first quarter. NBC Securities Inc. now owns 415 shares of the construction company’s stock valued at $35,000 after purchasing an additional 173 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in CRH by 30.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company’s stock valued at $54,000 after purchasing an additional 183 shares in the last quarter. Finally, Allworth Financial LP increased its position in CRH by 25.6% during the 4th quarter. Allworth Financial LP now owns 975 shares of the construction company’s stock worth $67,000 after purchasing an additional 199 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRH has been the subject of several recent analyst reports. Citigroup raised their price target on CRH from $101.00 to $106.00 and gave the company a “buy” rating in a report on Friday, April 5th. Stephens started coverage on shares of CRH in a research report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 target price on the stock. 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 note on Monday, April 15th. Truist Financial increased their target price on shares of CRH from $95.00 to $100.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, 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 target on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.11.

CRH Price Performance

Shares of CRH opened at $73.35 on Thursday. CRH plc has a 1-year low of $51.59 and a 1-year high of $88.00. The firm has a 50 day simple moving average of $78.76 and a 200-day simple moving average of $77.31.

CRH (NYSE:CRH) last released its quarterly earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. The company had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.60 billion. Equities analysts forecast that CRH plc will post 5.35 EPS for the current year.

CRH Increases Dividend

The company also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, May 24th were paid a $0.35 dividend. This is an increase from CRH’s previous Variable dividend of $0.23. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a yield of 1.7%.

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.