Merit Financial Group LLC Increases Stake in CRH plc (NYSE:CRH)

Merit Financial Group LLC has recently expanded its investment in CRH plc (NYSE:CRH), a company known for its building materials solutions. According to the latest report filed with the Securities and Exchange Commission, Merit Financial increased its position by 31.8% during the fourth quarter, now holding 23,253 shares after acquiring an additional 5,610 shares throughout the quarter. The total value of Merit Financial's holdings in CRH is approximately $2,151,000 based on the recent SEC disclosure.

Other institutional investors have also made adjustments to their stakes in CRH. For example, Grove Bank & Trust increased its holdings by 9.5% in the third quarter, bringing its total to 1,419 shares worth $132,000 after purchasing an additional 123 shares. UMB Bank n.a. significantly boosted its stake by 72.7%, rising to 297 shares valued at $28,000 following an additional acquisition of 125 shares. Similarly, CVA Family Office LLC raised its position by 2.1%, owning 6,116 shares worth $567,000 after adding 128 shares, while Lindbrook Capital LLC grew its holdings by 2.9% to 4,815 shares valued at $447,000. Lastly, Baillie Gifford & Co. increased its stake in CRH by 70.7%, now owning 391 shares worth $36,000.

CRH Stock Performance

As of Monday, CRH's stock opened at $97.69, reflecting a 2.2% increase. The stock has a 50-day moving average of $97.37 and a 200-day moving average of $90.65. CRH plc currently holds a market capitalization of $66.35 billion, with a price-to-earnings (PE) ratio of 19.54 and a price-to-earnings-growth (PEG) ratio of 1.00. Over the past year, the stock reached a low of $68.15 and a high of $104.23.

Dividend Announcement

In addition, CRH plc recently announced a variable dividend, which was distributed on December 18th. Shareholders as of November 22nd received a dividend of $0.262 per share, resulting in a yield of 1.4%. The company's current dividend payout ratio stands at 21.00%.

Analyst Insights on CRH

Various analysts have reviewed CRH in recent reports. HSBC initiated coverage with a "buy" rating and set a target price of $116.00. Morgan Stanley also raised its target price from $95.00 to $104.00, maintaining an "overweight" rating. Truist Financial increased their target price from $110.00 to $120.00. Furthermore, JPMorgan Chase elevated its price target from $114.00 to $116.00 and categorized the stock as "overweight." Citigroup adjusted their price objective downwards from $120.00 to $115.00 while keeping a "buy" rating. Overall, analysts have 12 buy ratings, one hold rating, and one strong buy rating for CRH, leading to a consensus rating of "Buy" and a price target of $107.75 according to MarketBeat.com.

About CRH plc

CRH plc, including its subsidiaries, provides various building materials solutions both in Ireland and internationally. The company operates across four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. They are involved in supplying materials for the construction and upkeep of public infrastructures and various buildings, while generating aggregates, cement, ready-mixed concrete, asphalt, and offering paving and construction services.

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