Brandes Investment Partners LP Sells 2,546 Shares of CRH plc (NYSE:CRH)

Brandes Investment Partners LP decreased its position in shares of CRH plc (NYSE:CRH) by 2.2% in the 4th quarter, HoldingsChannel reports. The fund owned 113,218 shares of the construction company’s stock after selling 2,546 shares during the period. Brandes Investment Partners LP’s holdings in CRH were worth $10,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Buckley Wealth Management LLC grew its holdings in CRH by 2.7% during the fourth quarter. Buckley Wealth Management LLC now owns 8,931 shares of the construction company’s stock worth $826,000 after buying an additional 233 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in CRH by 3.2% during the fourth quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock worth $405,000 after buying an additional 136 shares in the last quarter. LBP AM SA bought a new position in shares of CRH in the fourth quarter valued at approximately $1,724,000. Tredje AP fonden increased its position in shares of CRH by 50.6% during the fourth quarter. Tredje AP fonden now owns 135,558 shares of the construction company’s stock valued at $12,542,000 after acquiring an additional 45,558 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of CRH by 12.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,916 shares of the construction company’s stock valued at $455,000 after acquiring an additional 551 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

CRH has been the subject of a number of research analyst reports. Citigroup decreased their price target on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Berenberg Bank set a $120.00 price target on CRH in a research report on Friday, February 28th. JPMorgan Chase & Co. decreased their price target on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Finally, StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $109.25.

CRH Stock Up 2.6 %

Shares of CRH stock opened at $97.08 on Friday. The business has a 50-day moving average price of $99.37 and a two-hundred day moving average price of $96.09. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97. The firm has a market cap of $65.71 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.52%. This is an increase from CRH’s previous quarterly dividend of $0.23. CRH’s payout ratio is currently 20.87%.

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.