Intech Investment Management LLC Sells 29,059 Shares of CRH plc (NYSE:CRH)

Intech Investment Management LLC cut its stake in shares of CRH plc (NYSE:CRH) by 38.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,929 shares of the construction company’s stock after selling 29,059 shares during the period. Intech Investment Management LLC’s holdings in CRH were worth $4,342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Arkadios Wealth Advisors increased its position in shares of CRH by 4.9% during the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock valued at $216,000 after buying an additional 109 shares during the period. Parallel Advisors LLC increased its position in shares of CRH by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company’s stock worth $630,000 after purchasing an additional 129 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of CRH by 3.2% in the fourth quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock worth $405,000 after purchasing an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of CRH by 18.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock worth $90,000 after purchasing an additional 150 shares during the last quarter. Finally, Manitou Investment Management Ltd. increased its position in shares of CRH by 1.4% in the fourth quarter. Manitou Investment Management Ltd. now owns 11,203 shares of the construction company’s stock worth $1,037,000 after purchasing an additional 160 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CRH shares. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Berenberg Bank set a $120.00 price objective on shares of CRH in a research report on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective 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, Citigroup decreased their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One 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. According to data from MarketBeat, CRH currently has a consensus rating of “Buy” and an average target price of $109.25.

CRH Stock Performance

NYSE:CRH opened at $95.99 on Wednesday. The firm has a market cap of $64.98 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $110.97. The business has a 50 day moving average price of $99.52 and a 200-day moving average price of $96.25.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, March 14th. This is a positive change from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is 15.51%.

CRH 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.