Lazard Asset Management LLC Sells 1,389,513 Shares of CRH plc (NYSE:CRH)

Lazard Asset Management LLC reduced its position in shares of CRH plc (NYSE:CRH) by 28.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,414,590 shares of the construction company’s stock after selling 1,389,513 shares during the period. Lazard Asset Management LLC owned approximately 0.50% of CRH worth $315,916,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CRH. LMR Partners LLP raised its holdings in CRH by 1.9% during the 4th quarter. LMR Partners LLP now owns 233,780 shares of the construction company’s stock worth $21,629,000 after purchasing an additional 4,327 shares during the last quarter. London Co. of Virginia boosted its position in shares of CRH by 6.6% during the 4th quarter. London Co. of Virginia now owns 3,385 shares of the construction company’s stock worth $313,000 after purchasing an additional 209 shares in the last quarter. Lighthouse Investment Partners LLC grew its stake in shares of CRH by 49.0% in the 4th quarter. Lighthouse Investment Partners LLC now owns 320,213 shares of the construction company’s stock valued at $29,626,000 after buying an additional 105,299 shares during the period. J. Goldman & Co LP acquired a new stake in shares of CRH in the 4th quarter valued at about $7,515,000. Finally, Jefferies Financial Group Inc. increased its position in CRH by 70.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 61,078 shares of the construction company’s stock valued at $5,654,000 after buying an additional 25,278 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Trading Up 0.8%

CRH stock opened at $94.70 on Monday. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97. The business’s 50 day simple moving average is $91.43 and its 200 day simple moving average is $96.20. The company has a market cap of $63.98 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.15 and a beta of 1.33.

CRH (NYSE:CRH) last issued its earnings results on Monday, May 5th. The construction company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). CRH had a return on equity of 16.35% and a net margin of 9.86%. The company had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.77 billion. As a group, equities research analysts forecast that CRH plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Friday, May 23rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, May 23rd. CRH’s dividend payout ratio is presently 23.52%.

Wall Street Analyst Weigh In

CRH has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating on shares of CRH in a research note on Wednesday. Loop Capital assumed coverage on shares of CRH in a research note on Wednesday, April 9th. They set a “buy” rating and a $114.00 price target for the company. The Goldman Sachs Group reiterated a “neutral” rating on shares of CRH in a report on Tuesday, May 6th. Royal Bank of Canada lowered their target price on shares of CRH from $127.00 to $108.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their price target on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CRH has an average rating of “Buy” and an average price target of $112.36.

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.