Cannon Global Investment Management LLC increased its position in shares of CRH plc (NYSE:CRH - Free Report) by 115.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,500 shares of the construction company's stock after purchasing an additional 5,100 shares during the quarter. CRH accounts for about 1.9% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 11th largest holding. Cannon Global Investment Management LLC's holdings in CRH were worth $879,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CRH. FMR LLC lifted its position in shares of CRH by 33.4% in the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company's stock worth $3,341,258,000 after buying an additional 9,055,354 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CRH by 515.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company's stock worth $473,270,000 after acquiring an additional 4,274,336 shares during the last quarter. Franklin Resources Inc. boosted its stake in CRH by 8.7% in the third quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company's stock valued at $1,329,796,000 after acquiring an additional 1,148,708 shares during the period. AGF Management Ltd. raised its position in shares of 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 purchasing an additional 1,010,825 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CRH by 10.6% in the 4th quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company's stock worth $796,546,000 after purchasing an additional 826,758 shares during the last quarter. Institutional investors own 62.50% of the company's stock.
CRH Price Performance
Shares of CRH stock traded down $4.05 on Friday, hitting $88.09. The company had a trading volume of 11,039,934 shares, compared to its average volume of 5,457,916. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97. The business has a 50-day simple moving average of $99.77 and a 200-day simple moving average of $96.60. The company has a market cap of $59.57 billion, a PE ratio of 17.62, a PEG ratio of 1.15 and a beta of 1.30.
CRH Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued a dividend of $0.37 per share. This is a positive change from CRH's previous quarterly dividend of $0.23. This represents a $1.48 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, March 14th. CRH's payout ratio is presently 15.51%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on CRH shares. JPMorgan Chase & Co. lowered their price objective on CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Citigroup dropped their price objective 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. Berenberg Bank set a $120.00 target price on shares of CRH in a research note on Friday, February 28th. Finally, StockNews.com upgraded shares of CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, CRH presently has an average rating of "Buy" and an average target price of $109.64.
Get Our Latest Report on CRH
About CRH
(
Free Report)
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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