CRH plc (NYSE:CRH) Stake Lifted by Baupost Group LLC MA

Baupost Group LLC MA increased its stake in CRH plc (NYSE:CRH) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,641,402 shares of the construction company’s stock after acquiring an additional 4,800 shares during the period. CRH makes up 7.1% of Baupost Group LLC MA’s investment portfolio, making the stock its 5th largest position. Baupost Group LLC MA owned about 0.39% of CRH worth $244,383,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CRH. FMR LLC lifted its stake in shares of CRH by 13.0% in the 4th quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock valued at $3,781,004,000 after purchasing an additional 4,687,345 shares in the last quarter. Vanguard Group Inc. raised its holdings in CRH by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company’s stock valued at $3,624,719,000 after buying an additional 145,101 shares during the period. Franklin Resources Inc. lifted its position in CRH by 17.0% during the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock valued at $1,553,194,000 after buying an additional 2,437,868 shares in the last quarter. Norges Bank purchased a new stake in CRH during the fourth quarter worth approximately $1,391,245,000. Finally, Bank of New York Mellon Corp increased its position in shares of CRH by 10.6% in 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 acquiring an additional 826,758 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Berenberg Bank set a $120.00 price target on shares of CRH in a report on Friday, February 28th. Citigroup cut their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Loop Capital began coverage on CRH in a research note on Wednesday, April 9th. They set a “buy” rating and a $114.00 target price for the company. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CRH has an average rating of “Buy” and a consensus price target of $110.00.

CRH Stock Up 1.8 %

NYSE:CRH opened at $84.75 on Monday. The company has a market cap of $57.31 billion, a PE ratio of 16.95, a P/E/G ratio of 1.15 and a beta of 1.30. The business’s 50 day moving average is $96.40 and its two-hundred day moving average is $96.26. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97.

CRH Increases Dividend

The firm 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 represents a $1.48 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, March 14th. This is an increase from CRH’s previous quarterly dividend of $0.23. CRH’s payout ratio is currently 22.66%.

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.