Merit Financial Group LLC Buys 7,614 Shares of CRH plc (NYSE:CRH)

Merit Financial Group LLC boosted its stake in CRH plc (NYSE:CRH - Free Report) by 32.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,867 shares of the construction company's stock after purchasing an additional 7,614 shares during the period. Merit Financial Group LLC's holdings in CRH were worth $2,715,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CRH. Norges Bank bought a new stake in CRH in the 4th quarter worth approximately $1,391,245,000. FMR LLC grew its position in CRH by 13.0% in the 4th quarter. FMR LLC now owns 40,843,362 shares of the construction company's stock worth $3,781,004,000 after purchasing an additional 4,687,345 shares during the period. Franklin Resources Inc. grew its position in CRH by 17.0% in the 4th quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company's stock worth $1,553,194,000 after purchasing an additional 2,437,868 shares during the period. Deutsche Bank AG grew its position in CRH by 72.2% in the 4th quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company's stock worth $436,472,000 after purchasing an additional 1,978,225 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of CRH by 931.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,977,992 shares of the construction company's stock valued at $183,004,000 after acquiring an additional 1,786,189 shares during the period. Institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

CRH has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on shares of CRH in a research report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price objective for the company. Wall Street Zen raised shares of CRH from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. Royal Bank of Canada cut their price objective 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 set a "buy" rating and a $114.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $112.58.

CRH Stock Performance

Shares of CRH stock opened at $92.76 on Friday. The company has a market capitalization of $62.67 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.15 and a beta of 1.28. The company has a fifty day moving average of $91.01 and a 200 day moving average of $95.84. CRH plc has a fifty-two week low of $71.18 and a fifty-two week 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 the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.77 billion. CRH had a return on equity of 16.35% and a net margin of 9.86%. Analysts forecast that CRH plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Friday, May 23rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, May 23rd. CRH's payout ratio is currently 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.

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