KLP Kapitalforvaltning AS Takes Position in CRH plc (NYSE:CRH)

KLP Kapitalforvaltning AS purchased a new stake in CRH plc (NYSE:CRH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 163,100 shares of the construction company's stock, valued at approximately $15,090,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC grew its position in shares of CRH by 33.4% in the third quarter. FMR LLC now owns 36,156,017 shares of the construction company's stock valued at $3,341,258,000 after purchasing an additional 9,055,354 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CRH by 515.7% during 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 shares of CRH by 8.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company's stock valued at $1,329,796,000 after buying an additional 1,148,708 shares during the last quarter. AGF Management Ltd. grew its holdings 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in 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 worth $796,546,000 after purchasing an additional 826,758 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have issued reports on CRH. Berenberg Bank set a $120.00 target price on shares of CRH in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. StockNews.com raised shares of CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Finally, Citigroup decreased their target price on CRH from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $109.64.

CRH Stock Down 4.4 %

Shares of CRH traded down $4.05 during trading hours on Friday, hitting $88.09. 11,039,934 shares of the company were exchanged, compared to its average volume of 5,457,916. The company has a market cap of $59.57 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 1.15 and a beta of 1.30. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $110.97. The firm's fifty day moving average is $99.77 and its 200 day moving average is $96.60.

CRH Increases Dividend

The company also recently disclosed 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 an increase from CRH's previous quarterly dividend of $0.23. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.68%. CRH's dividend payout ratio (DPR) is 15.51%.

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.