First National Bank of Hutchinson Reduces Position in CRH plc (NYSE:CRH)

First National Bank of Hutchinson lowered its position in CRH plc (NYSE:CRH) by 7.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,449 shares of the construction company’s stock after selling 348 shares during the period. First National Bank of Hutchinson’s holdings in CRH were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CRH. Royal London Asset Management Ltd. boosted its stake in CRH by 0.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 455,560 shares of the construction company’s stock worth $42,148,000 after purchasing an additional 3,061 shares during the period. Vinva Investment Management Ltd increased its position in CRH by 197.8% in the 4th quarter. Vinva Investment Management Ltd now owns 12,929 shares of the construction company’s stock valued at $1,195,000 after acquiring an additional 8,588 shares during the period. Xponance Inc. raised its stake in CRH by 15.7% during the 4th quarter. Xponance Inc. now owns 68,529 shares of the construction company’s stock valued at $6,340,000 after acquiring an additional 9,314 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in CRH during the 4th quarter worth approximately $18,721,000. Finally, Tocqueville Asset Management L.P. grew its stake in shares of CRH by 1.6% in the 4th quarter. Tocqueville Asset Management L.P. now owns 48,227 shares of the construction company’s stock valued at $4,462,000 after purchasing an additional 766 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRH has been the subject of several recent research reports. Berenberg Bank set a $120.00 price target on CRH in a report on Friday, February 28th. Citigroup reduced their target price on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. One equities research 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 MarketBeat, CRH has an average rating of “Buy” and an average price target of $109.25.

CRH Stock Performance

CRH stock opened at $98.78 on Thursday. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $110.97. The firm has a market capitalization of $66.86 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The stock’s fifty day moving average is $99.65 and its two-hundred day moving average is $96.26.

CRH Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is 15.51%.

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.