CRH plc (NYSE:CRH) is Third Point LLC's 9th Largest Position

Third Point LLC boosted its holdings in CRH plc (NYSE:CRH - Free Report) by 32.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,715,000 shares of the construction company's stock after acquiring an additional 665,000 shares during the period. CRH accounts for about 3.4% of Third Point LLC's portfolio, making the stock its 9th largest holding. Third Point LLC owned approximately 0.40% of CRH worth $251,192,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in CRH during the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. lifted its holdings in 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 CRH in the 4th quarter valued at approximately $38,000. Deseret Mutual Benefit Administrators grew its stake 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 worth $47,000 after acquiring an additional 236 shares in the last quarter. Finally, GeoWealth Management LLC raised its stake in shares of CRH by 46.3% in 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 in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Stock Performance

CRH stock traded up $2.23 during midday trading on Friday, reaching $98.51. 4,690,436 shares of the company were exchanged, compared to its average volume of 5,755,482. The firm's 50-day simple moving average is $92.03 and its 200-day simple moving average is $96.09. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97. The company has a market capitalization of $66.62 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from CRH's previous quarterly dividend of $0.23. CRH's payout ratio is currently 22.66%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Berenberg Bank set a $120.00 price objective on CRH in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. StockNews.com upgraded CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Loop Capital began coverage on CRH in a report on Wednesday, April 9th. They set a "buy" rating and a $114.00 price target for the company. Finally, Royal Bank of Canada reduced their target price on shares of CRH from $127.00 to $108.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, CRH has a consensus rating of "Buy" and an average price target of $112.36.

CRH 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.