CRH plc (NYSE:CRH) Position Cut by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in shares of CRH plc (NYSE:CRH) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,976,630 shares of the construction company’s stock after selling 8,726 shares during the quarter. Geode Capital Management LLC owned about 1.17% of CRH worth $736,088,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRH. JPMorgan Chase & Co. lowered their price target on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Citigroup dropped 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. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Finally, Berenberg Bank set a $120.00 price objective on shares of CRH in a research note on Friday, February 28th. One 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. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $109.64.

CRH Stock Performance

CRH stock opened at $90.64 on Thursday. The firm has a 50 day simple moving average of $99.17 and a 200 day simple moving average of $96.74. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97. The stock has a market cap of $61.30 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This is a boost from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, March 14th. CRH’s payout ratio is currently 15.51%.

About CRH

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.