Prudential Financial Inc. Raises Holdings in CRH plc (NYSE:CRH)

Prudential Financial Inc. grew its stake in CRH plc (NYSE:CRH) by 12.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 270,900 shares of the construction company’s stock after buying an additional 30,541 shares during the quarter. Prudential Financial Inc.’s holdings in CRH were worth $25,064,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CRH. Congress Wealth Management LLC DE lifted its stake in CRH by 49.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 4,560 shares of the construction company’s stock worth $422,000 after acquiring an additional 1,501 shares during the last quarter. Cannon Global Investment Management LLC raised its holdings in shares of CRH by 115.9% in the 4th quarter. Cannon Global Investment Management LLC now owns 9,500 shares of the construction company’s stock valued at $879,000 after purchasing an additional 5,100 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of CRH by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company’s stock worth $3,624,719,000 after purchasing an additional 145,101 shares during the last quarter. LPL Financial LLC grew its stake in shares of CRH by 63.5% during the fourth quarter. LPL Financial LLC now owns 167,075 shares of the construction company’s stock worth $15,458,000 after purchasing an additional 64,873 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in CRH in the fourth quarter valued at $517,000. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Price Performance

CRH stock opened at $94.63 on Thursday. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97. The company has a market cap of $64.00 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The company has a fifty day moving average price of $100.03 and a 200 day moving average price of $96.61.

CRH Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued 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 dividend yield of 1.56%. This is a positive change from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio (DPR) is currently 15.51%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CRH shares. JPMorgan Chase & Co. decreased their price target on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Berenberg Bank set a $120.00 target price on CRH in a research note on Friday, February 28th. Citigroup lowered 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. Finally, StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. One 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 MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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.