Gallo Partners LP Purchases New Shares in CRH plc (NYSE:CRH)

Gallo Partners LP acquired a new position in shares of CRH plc (NYSE:CRH) during the fourth quarter, Holdings Channel reports. The fund acquired 42,853 shares of the construction company’s stock, valued at approximately $3,965,000. CRH comprises about 2.9% of Gallo Partners LP’s investment portfolio, making the stock its 5th biggest position.

Several other institutional investors have also recently made changes to their positions in CRH. Heck Capital Advisors LLC bought a new position in shares of CRH during the fourth quarter valued at about $32,000. Brown Brothers Harriman & Co. lifted its position in shares of CRH by 214.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock worth $33,000 after buying an additional 240 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of CRH in the 4th quarter worth approximately $38,000. Deseret Mutual Benefit Administrators grew its holdings in shares of CRH by 87.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock valued at $47,000 after acquiring an additional 236 shares in the last quarter. Finally, GeoWealth Management LLC increased its position in shares of CRH by 46.3% during the fourth quarter. GeoWealth Management LLC now owns 559 shares of the construction company’s stock valued at $52,000 after acquiring an additional 177 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

CRH Price Performance

NYSE:CRH opened at $93.44 on Wednesday. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97. The stock’s fifty day moving average price is $92.24 and its two-hundred day moving average price is $96.01. The company has a market cap of $63.19 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, March 14th were issued a dividend of $0.37 per share. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. CRH’s dividend payout ratio is 22.66%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRH. JPMorgan Chase & Co. reduced their price objective on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Loop Capital began coverage on shares of CRH in a research report on Wednesday, April 9th. They set a “buy” rating and a $114.00 price target for the company. Citigroup decreased their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. Berenberg Bank set a $120.00 target price on shares of CRH in a research note on Friday, February 28th. Finally, StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $112.36.

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.