Summit Financial LLC Invests $1.24 Million in CRH plc (NYSE:CRH)

Summit Financial LLC bought a new stake in shares of CRH plc (NYSE:CRH - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 17,851 shares of the construction company's stock, valued at approximately $1,235,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its holdings in shares of CRH by 38.3% in the third quarter. Commonwealth Equity Services LLC now owns 13,046 shares of the construction company's stock worth $714,000 after acquiring an additional 3,612 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in CRH by 5,175.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,091,650 shares of the construction company's stock valued at $388,126,000 after purchasing an additional 6,957,228 shares in the last quarter. Baker Ellis Asset Management LLC boosted its stake in shares of CRH by 45.5% during the 3rd quarter. Baker Ellis Asset Management LLC now owns 6,400 shares of the construction company's stock worth $350,000 after purchasing an additional 2,000 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of CRH by 166.5% during the third quarter. Brown Advisory Inc. now owns 149,944 shares of the construction company's stock worth $8,206,000 after buying an additional 93,675 shares in the last quarter. Finally, Forsta AP Fonden acquired a new position in shares of CRH in the third quarter valued at approximately $8,174,000. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Trading Up 3.1 %

NYSE CRH traded up $2.40 during mid-day trading on Thursday, hitting $79.55. The company's stock had a trading volume of 2,727,149 shares, compared to its average volume of 3,563,635. CRH plc has a 52-week low of $47.14 and a 52-week high of $88.00. The stock's fifty day simple moving average is $82.27 and its two-hundred day simple moving average is $71.33.

CRH (NYSE:CRH - Get Free Report) last issued its earnings results on Thursday, February 29th. The construction company reported $1.29 EPS for the quarter. The business had revenue of $8.69 billion during the quarter. On average, sell-side analysts predict that CRH plc will post 5.36 EPS for the current year.

CRH Announces Dividend

The business also recently announced a Variable dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 15th were given a $0.262 dividend. This represents a dividend yield of 2%. The ex-dividend date of this dividend was Thursday, March 14th.

Wall Street Analyst Weigh In

CRH has been the subject of several analyst reports. DA Davidson began coverage on CRH in a report on Friday, January 19th. They issued a "buy" rating and a $82.00 price target for the company. Vertical Research began coverage on CRH in a research note on Friday, March 22nd. They issued a "buy" rating and a $105.00 target price for the company. Truist Financial raised their price target on CRH from $81.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, March 4th. Stifel Nicolaus reaffirmed a "hold" rating and set a $82.00 price objective (up previously from $80.00) on shares of CRH in a research note on Monday, April 15th. Finally, Citigroup increased their price objective on shares of CRH from $101.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $79.31.

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.