Pictet Asset Management Holding SA Acquires 27,448 Shares of CRH plc (NYSE:CRH)

Pictet Asset Management Holding SA raised its stake in CRH plc (NYSE:CRH) by 9.5% in the fourth quarter, Holdings Channel reports. The fund owned 317,890 shares of the construction company’s stock after purchasing an additional 27,448 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CRH were worth $29,412,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CRH. Nomura Asset Management Co. Ltd. lifted its stake in CRH by 62.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 314,654 shares of the construction company’s stock valued at $29,112,000 after purchasing an additional 121,041 shares during the last quarter. Blair William & Co. IL grew its stake in shares of CRH by 7.8% during the fourth quarter. Blair William & Co. IL now owns 3,245 shares of the construction company’s stock worth $300,000 after buying an additional 234 shares during the last quarter. Norges Bank acquired a new position in shares of CRH during the fourth quarter worth $1,391,245,000. Caisse Des Depots ET Consignations bought a new position in shares of CRH in the 4th quarter valued at $5,274,000. Finally, NEOS Investment Management LLC boosted its holdings in shares of CRH by 22.9% during the 4th quarter. NEOS Investment Management LLC now owns 69,408 shares of the construction company’s stock valued at $6,422,000 after acquiring an additional 12,921 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Stock Performance

Shares of NYSE CRH opened at $88.09 on Monday. The company’s 50 day moving average price is $99.77 and its 200-day moving average price is $96.76. CRH plc has a 52-week low of $71.18 and a 52-week high of $110.97. The company has a market capitalization of $59.57 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued a $0.37 dividend. This is a positive change 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 yield of 1.68%. CRH’s payout ratio is presently 15.51%.

Analyst Upgrades and Downgrades

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