Clearbridge Investments LLC Cuts Stock Position in CRH plc (NYSE:CRH)

Clearbridge Investments LLC cut its stake in shares of CRH plc (NYSE:CRH) by 12.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,729,697 shares of the construction company’s stock after selling 385,636 shares during the period. Clearbridge Investments LLC’s holdings in CRH were worth $252,552,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in CRH by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company’s stock valued at $3,624,719,000 after buying an additional 145,101 shares in the last quarter. Norges Bank purchased a new position in shares of CRH in the fourth quarter valued at approximately $1,391,245,000. Franklin Resources Inc. boosted its stake in shares of CRH by 8.7% in the third quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock worth $1,329,796,000 after acquiring an additional 1,148,708 shares during the last quarter. State Street Corp increased its position in shares of CRH by 4.9% during the third quarter. State Street Corp now owns 13,139,233 shares of the construction company’s stock worth $1,218,532,000 after purchasing an additional 618,786 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in CRH by 10.6% in the 4th quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock valued at $796,546,000 after purchasing an additional 826,758 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Trading Down 4.4 %

Shares of NYSE:CRH opened at $88.09 on Monday. The business has a 50-day moving average price of $99.77 and a 200 day moving average price of $96.76. CRH plc has a 12-month low of $71.18 and a 12-month high of $110.97. The company has a market capitalization of $59.57 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be paid 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 is Friday, March 14th. CRH’s payout ratio is 15.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup lowered their target price on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Berenberg Bank set a $120.00 price objective on shares of CRH in a research note on Friday, February 28th. JPMorgan Chase & Co. decreased their target price 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, StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $109.64.

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.