15,035,793 Shares in CRH plc (NYSE:CRH) Acquired by Norges Bank

Norges Bank purchased a new position in shares of CRH plc (NYSE:CRH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,035,793 shares of the construction company's stock, valued at approximately $1,391,245,000. Norges Bank owned 2.21% of CRH as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CRH. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 valued at $473,270,000 after buying an additional 4,274,336 shares during the period. Franklin Resources Inc. raised its holdings in CRH by 8.7% in 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 acquiring an additional 1,148,708 shares in the last quarter. AGF Management Ltd. lifted 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 valued at $95,714,000 after acquiring an additional 1,010,825 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of CRH by 10.6% during 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. Finally, Nordea Investment Management AB increased its position in shares of CRH by 48.2% in the fourth quarter. Nordea Investment Management AB now owns 2,484,746 shares of the construction company's stock worth $231,206,000 after purchasing an additional 808,061 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRH shares. Berenberg Bank set a $120.00 price objective on shares of CRH in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Citigroup reduced their price target 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. Finally, StockNews.com upgraded shares of CRH from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. One equities 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, the stock presently has a consensus rating of "Buy" and an average price target of $109.64.

CRH Stock Performance

Shares of CRH traded down $0.96 during trading hours on Monday, reaching $87.18. The stock had a trading volume of 2,894,694 shares, compared to its average volume of 5,448,264. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97. The stock has a market capitalization of $58.96 billion, a PE ratio of 17.37, a PEG ratio of 1.15 and a beta of 1.30. The company's 50-day moving average is $99.77 and its two-hundred day moving average is $96.76.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from CRH's previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a yield of 1.70%. CRH's dividend payout ratio (DPR) is currently 15.51%.

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.