CRH plc (NYSE:CRH) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in shares of CRH plc (NYSE:CRH) by 23.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,029,847 shares of the construction company’s stock after selling 920,591 shares during the quarter. Alliancebernstein L.P. owned 0.45% of CRH worth $280,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in shares of CRH by 40.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,508 shares of the construction company’s stock worth $511,000 after purchasing an additional 1,577 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in CRH by 32.4% during the 3rd quarter. D.A. Davidson & CO. now owns 8,762 shares of the construction company’s stock worth $813,000 after buying an additional 2,144 shares during the last quarter. Martingale Asset Management L P acquired a new position in shares of CRH during the 3rd quarter worth about $1,224,000. Captrust Financial Advisors increased its holdings in shares of CRH by 15.9% in the 3rd quarter. Captrust Financial Advisors now owns 7,958 shares of the construction company’s stock valued at $738,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of CRH during the 3rd quarter worth about $610,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Berenberg Bank set a $120.00 price target on shares of CRH in a research report on Friday, February 28th. Citigroup decreased their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut 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 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $109.64.

CRH Price Performance

Shares of NYSE:CRH opened at $88.04 on Tuesday. The firm has a market capitalization of $59.54 billion, a PE ratio of 17.61, a P/E/G 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. The business has a 50-day moving average of $99.58 and a two-hundred day moving average of $96.77.

CRH Increases Dividend

The firm also recently declared 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. This is a positive change 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 annualized dividend and a yield of 1.68%. CRH’s dividend payout ratio (DPR) is presently 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.