Allianz SE Purchases New Position in CRH plc (NYSE:CRH)

Allianz SE purchased a new stake in CRH plc (NYSE:CRH) during the fourth quarter, Holdings Channel reports. The firm purchased 8,401 shares of the construction company’s stock, valued at approximately $777,000.

Several other hedge funds have also recently bought and sold shares of the stock. Heck Capital Advisors LLC acquired a new stake in shares of CRH in the 4th quarter valued at $32,000. Brown Brothers Harriman & Co. lifted its holdings in CRH by 214.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after purchasing an additional 240 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in CRH in the fourth quarter valued at about $38,000. Deseret Mutual Benefit Administrators boosted its position in CRH by 87.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock valued at $47,000 after buying an additional 236 shares in the last quarter. Finally, Spire Wealth Management bought a new stake in CRH during the fourth quarter worth about $57,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Price Performance

Shares of NYSE:CRH opened at $88.09 on Monday. The company has a 50 day moving average of $99.77 and a 200-day moving average of $96.76. CRH plc has a one year low of $71.18 and a one year high of $110.97. The stock has a market cap of $59.57 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.68%. CRH’s payout ratio is presently 15.51%.

Analyst Ratings Changes

CRH has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Berenberg Bank set a $120.00 price objective on CRH in a research report on Friday, February 28th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Finally, Citigroup cut their price target on CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $109.64.

About CRH

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.