Pictet Asset Management Holding SA Boosts Stock Position in CRH plc (NYSE:CRH)

Pictet Asset Management Holding SA increased its stake in shares of CRH plc (NYSE:CRH - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,890 shares of the construction company's stock after purchasing an additional 27,448 shares during the quarter. Pictet Asset Management Holding SA's holdings in CRH were worth $29,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in CRH by 7.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company's stock valued at $144,605,000 after purchasing an additional 114,072 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of CRH by 22.1% during the 4th quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company's stock valued at $3,012,000 after acquiring an additional 5,889 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CRH by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company's stock worth $226,732,000 after acquiring an additional 232,977 shares during the period. Merit Financial Group LLC boosted its position in shares of CRH by 31.8% in the fourth quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company's stock worth $2,151,000 after acquiring an additional 5,610 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in CRH by 19.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company's stock valued at $6,733,000 after purchasing an additional 12,076 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Stock Down 6.6 %

Shares of CRH traded down $5.73 during mid-day trading on Friday, reaching $80.63. 8,909,533 shares of the stock traded hands, compared to its average volume of 5,537,774. The stock has a fifty day simple moving average of $98.48 and a 200 day simple moving average of $96.61. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97. The firm has a market cap of $54.53 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. This is a positive change from CRH's previous quarterly dividend of $0.23. CRH's payout ratio is currently 15.51%.

Analyst Ratings Changes

CRH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target 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. Berenberg Bank set a $120.00 target price on CRH in a report on Friday, February 28th. StockNews.com raised CRH from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. Finally, Citigroup cut their price objective on CRH from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $109.64.

CRH 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.