Pallas Capital Advisors LLC Acquires Stake in CRH plc

Pallas Capital Advisors LLC has made a new investment in CRH plc (NYSE:CRH) during the fourth quarter of the year, as reported in their latest 13F filing with the SEC. The investment firm purchased 2,664 shares of the construction company, with a total value of approximately $246,000.

Institutional Investments in CRH

Several other institutional investors have also adjusted their positions in CRH. For instance, in the second quarter, Victory Capital Management Inc. bought a new stake valued at around $206,000. Similarly, Federated Hermes Inc. increased its stake by 3.4%, acquiring an additional 2,500 shares to reach a total of 76,087 shares, now valued at $5,705,000. Parallel Advisors LLC raised its stake by 2.9%, owning 7,450 shares valued at $559,000 after buying another 213 shares recently. Moreover, Envestnet Asset Management Inc. raised its stake to 987,547 shares worth $73,969,000 following the acquisition of 47,113 additional shares. Dimensional Fund Advisors LP also increased its holdings, now owning 2,099,866 shares valued at approximately $157,365,000 after buying an extra 100,038 shares. Overall, institutional investors and hedge funds control 62.50% of CRH's stock.

Current Stock Performance

As of Thursday, NYSE CRH opened at $95.72. The stock has seen a 12-month low of $66.42 and a high of $104.23. CRH plc boasts a market capitalization of $65.01 billion, a price-to-earnings (P/E) ratio of 19.14, a price-to-earnings-growth (P/E/G) ratio of 1.24, and a beta of 1.29. The company's 50-day simple moving average stands at $97.62, while the 200-day simple moving average is $90.28.

Dividend Announcements

Recently, CRH declared a Variable dividend which was distributed on December 18th. Shareholders on record as of November 22nd received a dividend of $0.262 per share, with the ex-dividend date also falling on November 22nd. This action represents a dividend yield of 1.4%, with a dividend payout ratio currently at 37.20%.

Analysts' Perspectives

CRH has attracted attention from several analysts who have released research reports on the company. For example, Barclays initiated coverage with an "overweight" rating and set a price target of $110.00. Similarly, HSBC also began coverage, rating the stock as a "buy" with a price objective of $116.00. Furthermore, DA Davidson raised its price target from $110.00 to $120.00 while maintaining a "buy" rating. JPMorgan Chase & Co. has upped their price target from $114.00 to $116.00, again assigning an "overweight" rating. Citigroup adjusted their price target slightly down from $120.00 to $115.00, keeping a "buy" rating. Among the research analysts, one has given a hold rating, twelve provided buy ratings, and one offered a strong buy rating. Currently, the stock holds an average rating of "Buy" with a target price of $107.75.

About CRH plc

CRH plc, alongside its subsidiaries, provides building material solutions both in Ireland and internationally. Its operations are categorized into four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company supplies materials for the construction and maintenance of public infrastructure and both commercial and residential buildings, producing and selling aggregates, cement, ready-mixed concrete, and asphalt. It also offers paving and construction services.

investment, stocks, construction