DnB Asset Management AS Trims Stock Holdings in CRH plc (NYSE:CRH)

DnB Asset Management AS lowered its position in CRH plc (NYSE:CRH) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 318,139 shares of the construction company’s stock after selling 16,448 shares during the period. DnB Asset Management AS’s holdings in CRH were worth $29,434,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Pictet Asset Management Holding SA lifted its holdings in shares of CRH by 9.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 317,890 shares of the construction company’s stock valued at $29,412,000 after acquiring an additional 27,448 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of CRH by 62.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 314,654 shares of the construction company’s stock worth $29,112,000 after purchasing an additional 121,041 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of CRH by 7.8% in the fourth quarter. Blair William & Co. IL now owns 3,245 shares of the construction company’s stock valued at $300,000 after purchasing an additional 234 shares during the period. Norges Bank purchased a new stake in CRH in the fourth quarter worth about $1,391,245,000. Finally, Caisse Des Depots ET Consignations bought a new position in shares of CRH during the fourth quarter valued at approximately $5,274,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Berenberg Bank set a $120.00 price objective on shares of CRH in a research note on Friday, February 28th. Citigroup dropped their price objective on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CRH has an average rating of “Buy” and a consensus target price of $109.64.

CRH Trading Down 4.4 %

CRH stock opened at $88.09 on Friday. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97. The stock has a 50-day moving average price of $99.77 and a 200 day moving average price of $96.60. The stock has a market cap of $59.57 billion, a PE ratio of 17.62, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. CRH’s dividend payout ratio (DPR) is 15.51%.

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.