CRH plc (NYSE:CRH) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its stake in shares of CRH plc (NYSE:CRH) by 9.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 87,839 shares of the construction company’s stock after selling 9,347 shares during the period. Advisors Asset Management Inc.’s holdings in CRH were worth $8,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC raised its position in shares of CRH by 33.4% during the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after purchasing an additional 9,055,354 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in CRH by 515.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock worth $473,270,000 after buying an additional 4,274,336 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of CRH by 8.7% during the third quarter. Franklin Resources Inc. now owns 14,351,050 shares of the construction company’s stock valued at $1,329,796,000 after acquiring an additional 1,148,708 shares during the last quarter. AGF Management Ltd. lifted its position in shares of CRH by 4,264.7% in the fourth quarter. AGF Management Ltd. now owns 1,034,527 shares of the construction company’s stock valued at $95,714,000 after acquiring an additional 1,010,825 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of CRH by 10.6% in the fourth quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock worth $796,546,000 after acquiring an additional 826,758 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Citigroup reduced their target price on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Finally, Berenberg Bank set a $120.00 price objective on shares of CRH in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CRH has an average rating of “Buy” and a consensus target price of $109.25.

CRH Price Performance

CRH stock opened at $95.99 on Wednesday. The firm has a 50 day simple moving average of $99.52 and a 200-day simple moving average of $96.25. The stock has a market cap of $64.98 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. CRH plc has a 1-year low of $71.18 and a 1-year high of $110.97.

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 paid 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 yield of 1.54%. 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.