CRH plc (NYSE:CRH) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its holdings in shares of CRH plc (NYSE:CRH) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,729,697 shares of the construction company’s stock after selling 385,636 shares during the period. Clearbridge Investments LLC owned 0.40% of CRH worth $252,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRH. Heck Capital Advisors LLC purchased a new stake in CRH in the fourth quarter valued at about $32,000. Brown Brothers Harriman & Co. raised its position in shares of CRH by 214.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after purchasing an additional 240 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of CRH in the 4th quarter valued at approximately $38,000. Deseret Mutual Benefit Administrators boosted its stake in CRH by 87.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock worth $47,000 after purchasing an additional 236 shares in the last quarter. Finally, Spire Wealth Management purchased a new stake in CRH during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of NYSE CRH opened at $88.09 on Monday. The stock has a market capitalization of $59.57 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.15 and a beta of 1.30. The firm’s 50 day simple moving average is $99.77 and its 200-day simple moving average is $96.76. 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 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. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 1.68%. CRH’s payout ratio is presently 15.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Berenberg Bank set a $120.00 price objective on shares of CRH in a research note on Friday, February 28th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Finally, Citigroup reduced their price objective on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.