Russell Investments Group Ltd. Decreases Stock Position in CRH plc (NYSE:CRH)

Russell Investments Group Ltd. decreased its holdings in shares of CRH plc (NYSE:CRH) by 23.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 691,931 shares of the construction company’s stock after selling 207,503 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of CRH worth $64,060,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of CRH during the fourth quarter worth $1,391,245,000. Franklin Resources Inc. raised its stake 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 acquiring an additional 2,437,868 shares during the last quarter. AGF Management Ltd. lifted its position in CRH by 4,264.7% during the 4th quarter. AGF Management Ltd. now owns 1,034,527 shares of the construction company’s stock worth $95,714,000 after acquiring an additional 1,010,825 shares during the period. National Bank of Canada FI grew its stake in CRH by 32,560.1% during the 4th quarter. National Bank of Canada FI now owns 951,714 shares of the construction company’s stock valued at $88,053,000 after purchasing an additional 948,800 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of CRH by 10.6% in the fourth quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock valued at $796,546,000 after purchasing an additional 826,758 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

CRH has been the topic of a number of recent research reports. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Berenberg Bank set a $120.00 price objective on shares of CRH in a report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Finally, Citigroup lowered their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, CRH has an average rating of “Buy” and a consensus target price of $109.64.

CRH Trading Down 6.6 %

Shares of CRH opened at $80.63 on Monday. The firm has a market cap of $54.53 billion, a P/E ratio of 16.13, a PEG ratio of 1.15 and a beta of 1.30. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97. The stock’s 50 day moving average is $98.48 and its two-hundred day moving average is $96.71.

CRH Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, March 14th. This is a positive change from CRH’s previous quarterly dividend of $0.23. CRH’s payout ratio is presently 22.66%.

About CRH

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.