KLP Kapitalforvaltning AS Makes New $15.09 Million Investment in CRH plc (NYSE:CRH)

KLP Kapitalforvaltning AS acquired a new position in shares of CRH plc (NYSE:CRH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 163,100 shares of the construction company’s stock, valued at approximately $15,090,000.

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

Analysts Set New Price Targets

CRH has been the subject of several recent research reports. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Citigroup dropped 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. Berenberg Bank set a $120.00 target price on shares of CRH in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $109.64.

CRH Stock Down 2.9 %

CRH opened at $94.79 on Monday. The stock has a market cap of $64.16 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.15 and a beta of 1.30. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97. The company has a fifty day simple moving average of $99.81 and a 200 day simple moving average of $96.44.

CRH Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. CRH’s dividend payout ratio is presently 15.51%.

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.