Quantbot Technologies LP lifted its stake in CRH plc (NYSE:CRH - Free Report) by 107.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,086 shares of the construction company's stock after purchasing an additional 30,624 shares during the quarter. Quantbot Technologies LP's holdings in CRH were worth $5,467,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC grew its holdings in CRH by 33.4% in the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company's stock valued at $3,341,258,000 after buying an additional 9,055,354 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of 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 purchasing an additional 1,148,708 shares during the period. State Street Corp increased its position in CRH by 4.9% during the third quarter. State Street Corp now owns 13,139,233 shares of the construction company's stock worth $1,218,532,000 after purchasing an additional 618,786 shares during the last quarter. Bank of New York Mellon Corp increased its position in CRH by 10.6% during 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 during the last quarter. Finally, Geode Capital Management LLC raised its stake in CRH by 2.1% during the third quarter. Geode Capital Management LLC now owns 7,985,356 shares of the construction company's stock worth $738,113,000 after purchasing an additional 165,825 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Berenberg Bank set a $120.00 price objective on CRH in a research report on Friday, February 28th. Citigroup reduced their target price on 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 CRH from a "hold" rating to a "buy" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, CRH presently has an average rating of "Buy" and a consensus target price of $109.25.
Check Out Our Latest Stock Report on CRH
CRH Stock Up 2.7 %
NYSE CRH traded up $2.64 during trading on Wednesday, hitting $98.78. The stock had a trading volume of 17,809,533 shares, compared to its average volume of 4,814,671. The company has a market capitalization of $66.86 billion, a PE ratio of 19.76, a PEG ratio of 1.15 and a beta of 1.30. The firm has a 50 day moving average price of $99.52 and a 200 day moving average price of $96.25. CRH plc has a twelve month low of $71.18 and a twelve month high of $110.97.
CRH Increases Dividend
The firm 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 $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from CRH's previous quarterly dividend of $0.23. CRH's payout ratio is 15.51%.
CRH Profile
(
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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