CRH plc (NYSE:CRH) Stock Position Cut by Payden & Rygel

Payden & Rygel trimmed its holdings in CRH plc (NYSE:CRH) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,100 shares of the construction company’s stock after selling 16,300 shares during the period. CRH comprises approximately 2.4% of Payden & Rygel’s holdings, making the stock its 4th largest holding. Payden & Rygel’s holdings in CRH were worth $28,228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in CRH by 0.4% in the fourth 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 during the last quarter. Franklin Resources Inc. increased its holdings in shares of CRH by 17.0% in the 4th quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock valued at $1,553,194,000 after acquiring an additional 2,437,868 shares during the last quarter. Norges Bank acquired a new stake in shares of CRH during the 4th quarter valued at approximately $1,391,245,000. State Street Corp lifted its stake in 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 during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 826,758 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Stock Down 6.6 %

Shares of CRH stock opened at $80.63 on Friday. The business has a fifty day simple moving average of $98.48 and a 200-day simple 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. The firm has a market cap of $54.53 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This is a positive change 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 dividend yield of 1.84%. CRH’s dividend payout ratio (DPR) is 15.51%.

Analyst Upgrades and Downgrades

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

About CRH

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.