Massachusetts Financial Services Co. MA Acquires 820,479 Shares of CRH plc (NYSE:CRH)

Massachusetts Financial Services Co. MA increased its stake in shares of CRH plc (NYSE:CRH - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,195,372 shares of the construction company's stock after buying an additional 820,479 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.06% of CRH worth $665,716,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of CRH by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company's stock worth $3,624,719,000 after buying an additional 145,101 shares in the last quarter. Franklin Resources Inc. grew its holdings in CRH by 17.0% during the fourth 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 period. Norges Bank acquired a new stake in CRH during the fourth quarter valued at approximately $1,391,245,000. State Street Corp boosted its stake in shares of CRH by 4.9% during the 3rd quarter. State Street Corp now owns 13,139,233 shares of the construction company's stock worth $1,218,532,000 after acquiring an additional 618,786 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in 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 in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Stock Performance

Shares of CRH stock traded down $0.48 during trading hours on Monday, hitting $80.39. The company had a trading volume of 3,083,846 shares, compared to its average volume of 5,540,800. The firm's fifty day moving average is $98.48 and its 200 day moving average is $96.71. The firm has a market capitalization of $54.37 billion, a price-to-earnings ratio of 16.04, 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.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be issued a $0.37 dividend. This is a positive change 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 1.84%. CRH's dividend payout ratio is presently 22.66%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of CRH from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Berenberg Bank set a $120.00 price objective on CRH in a research report on Friday, February 28th. StockNews.com upgraded shares of CRH from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. dropped their target price on CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $109.64.

CRH Company Profile

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.