New York Life Investment Management LLC Cuts Stock Position in CRH plc (NYSE:CRH)

New York Life Investment Management LLC lessened its holdings in CRH plc (NYSE:CRH) by 4.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,824 shares of the construction company’s stock after selling 492 shares during the quarter. New York Life Investment Management LLC’s holdings in CRH were worth $909,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CRH. Arkadios Wealth Advisors grew its position in shares of CRH by 4.9% during the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock valued at $216,000 after purchasing an additional 109 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of CRH by 2.9% during the third quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company’s stock valued at $447,000 after purchasing an additional 135 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of CRH by 18.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock valued at $90,000 after purchasing an additional 150 shares in the last quarter. Manitou Investment Management Ltd. grew its position in shares of CRH by 1.4% during the fourth quarter. Manitou Investment Management Ltd. now owns 11,203 shares of the construction company’s stock valued at $1,037,000 after purchasing an additional 160 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of NYSE CRH opened at $100.00 on Tuesday. The company has a market cap of $67.92 billion, a P/E ratio of 20.00, a PEG ratio of 1.15 and a beta of 1.30. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97. The firm has a 50-day simple moving average of $98.71 and a two-hundred day simple moving average of $95.53.

CRH Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 1.48%. This is an increase from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio (DPR) is presently 20.87%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRH. Truist Financial raised their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Morgan Stanley lifted their price target on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $107.75.

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.