DnB Asset Management AS Has $29.43 Million Stake in CRH plc (NYSE:CRH)

DnB Asset Management AS lowered its position in CRH plc (NYSE:CRH) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 318,139 shares of the construction company’s stock after selling 16,448 shares during the period. DnB Asset Management AS’s holdings in CRH were worth $29,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in shares of CRH in the 4th quarter valued at $32,000. Whipplewood Advisors LLC bought a new position in CRH in the fourth quarter valued at $38,000. Deseret Mutual Benefit Administrators boosted its position in CRH by 87.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock valued at $47,000 after purchasing an additional 236 shares during the last quarter. Spire Wealth Management bought a new position in shares of CRH in the fourth quarter valued at $57,000. Finally, Versant Capital Management Inc increased its stake in shares of CRH by 111.4% during the 4th quarter. Versant Capital Management Inc now owns 668 shares of the construction company’s stock worth $62,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CRH shares. Citigroup decreased their target price on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Berenberg Bank set a $120.00 target price on CRH in a report on Friday, February 28th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $109.64.

CRH Price Performance

Shares of NYSE:CRH opened at $88.09 on Friday. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97. The company has a market cap of $59.57 billion, a PE ratio of 17.62, a P/E/G ratio of 1.15 and a beta of 1.30. The stock’s 50-day moving average is $99.77 and its 200 day moving average is $96.60.

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 issued a $0.37 dividend. This represents a $1.48 annualized dividend and a 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%.

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.