Canandaigua National Bank & Trust Co. Makes New Investment in CRH PLC (NYSE:CRH)

Canandaigua National Bank & Trust Co. bought a new stake in shares of CRH PLC (NYSE:CRH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,794 shares of the construction company's stock, valued at approximately $598,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in CRH by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company's stock worth $226,732,000 after acquiring an additional 232,977 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of CRH in the 4th quarter worth approximately $237,000. Headlands Technologies LLC boosted its position in CRH by 142,350.0% during the 4th quarter. Headlands Technologies LLC now owns 17,094 shares of the construction company's stock valued at $1,582,000 after purchasing an additional 17,082 shares during the period. Illinois Municipal Retirement Fund bought a new position in CRH during the 4th quarter worth $683,000. Finally, LGT Group Foundation increased its position in CRH by 2.3% in the fourth quarter. LGT Group Foundation now owns 795,108 shares of the construction company's stock worth $73,563,000 after buying an additional 17,755 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRH. Royal Bank Of Canada lowered their price target on shares of CRH from $127.00 to $108.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Loop Capital initiated coverage on shares of CRH in a research report on Wednesday, April 9th. They issued a "buy" rating and a $114.00 target price for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a report on Wednesday, May 7th. 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 report on Tuesday, March 11th. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, CRH currently has an average rating of "Buy" and an average target price of $114.18.

CRH Stock Performance

NYSE CRH traded up $1.18 on Wednesday, reaching $94.48. The company's stock had a trading volume of 3,432,822 shares, compared to its average volume of 4,929,175. The firm's 50 day moving average is $93.13 and its two-hundred day moving average is $94.50. The stock has a market cap of $63.84 billion, a PE ratio of 20.02, a PEG ratio of 1.43 and a beta of 1.26. CRH PLC has a twelve month low of $72.32 and a twelve month high of $110.97.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.77 billion. CRH had a return on equity of 15.88% and a net margin of 9.17%. Equities research analysts anticipate that CRH PLC will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Friday, May 23rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, May 23rd. CRH's payout ratio is 23.52%.

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.