Payden & Rygel Sells 16,300 Shares of CRH plc (NYSE:CRH)

Payden & Rygel trimmed its stake in shares of CRH plc (NYSE:CRH) by 5.1% in the 4th quarter, HoldingsChannel reports. The firm owned 305,100 shares of the construction company’s stock after selling 16,300 shares during the quarter. CRH makes up about 2.4% of Payden & Rygel’s portfolio, making the stock its 4th biggest position. Payden & Rygel’s holdings in CRH were worth $28,228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CRH. Heck Capital Advisors LLC purchased a new position in shares of CRH in the fourth quarter worth approximately $32,000. Brown Brothers Harriman & Co. raised its stake 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 period. Whipplewood Advisors LLC acquired a new stake in CRH during the 4th quarter valued at $38,000. Deseret Mutual Benefit Administrators boosted its position in shares of CRH by 87.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock worth $47,000 after buying an additional 236 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of CRH in the fourth quarter worth $57,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRH shares. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Citigroup decreased their price target 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. dropped their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Finally, Berenberg Bank set a $120.00 target price on shares of CRH in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $109.64.

CRH Price Performance

Shares of NYSE:CRH opened at $80.63 on Friday. The stock has a market capitalization of $54.53 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.15 and a beta of 1.30. The business has a 50-day moving average of $98.48 and a two-hundred day moving average of $96.61. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $110.97.

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 given a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. This is a boost from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is presently 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.