Blackstone Inc. Sells 10,000 Shares of CRH plc (NYSE:CRH)

Blackstone Inc. cut its stake in CRH plc (NYSE:CRH) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 590,000 shares of the construction company’s stock after selling 10,000 shares during the quarter. Blackstone Inc. owned 0.09% of CRH worth $54,587,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CRH. Bridgefront Capital LLC raised its position in shares of CRH by 20.6% during the fourth quarter. Bridgefront Capital LLC now owns 13,200 shares of the construction company’s stock worth $1,221,000 after purchasing an additional 2,255 shares during the period. Cantor Fitzgerald L. P. bought a new stake in CRH during the 4th quarter worth approximately $231,000. Capstone Investment Advisors LLC acquired a new stake in CRH during the 4th quarter worth approximately $5,803,000. Captrust Financial Advisors lifted its stake in CRH by 29.9% in the fourth quarter. Captrust Financial Advisors now owns 10,341 shares of the construction company’s stock valued at $957,000 after buying an additional 2,383 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new position in shares of CRH in the fourth quarter valued at approximately $570,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Trading Down 0.3 %

CRH stock opened at $98.21 on Tuesday. The company has a market capitalization of $66.42 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.15 and a beta of 1.33. The stock’s 50 day moving average is $91.94 and its 200-day moving average is $96.14. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97.

CRH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.51%. CRH’s dividend payout ratio is currently 22.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. 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. Loop Capital began coverage on shares of CRH in a research note on Wednesday, April 9th. They issued a “buy” rating and a $114.00 target price for the company. Berenberg Bank set a $120.00 price target on shares of CRH in a research report on Friday, February 28th. Finally, 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 report on Monday, January 6th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $112.36.

CRH 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.