Norges Bank Purchases New Shares in CRH plc (NYSE:CRH)

Norges Bank acquired a new stake in shares of CRH plc (NYSE:CRH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 15,035,793 shares of the construction company’s stock, valued at approximately $1,391,245,000. Norges Bank owned 2.21% of CRH at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in shares of CRH during the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC purchased a new position in CRH in the fourth quarter worth about $38,000. Deseret Mutual Benefit Administrators lifted its stake in shares of CRH by 87.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 505 shares of the construction company’s stock worth $47,000 after buying an additional 236 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of CRH during the fourth quarter valued at approximately $57,000. Finally, Versant Capital Management Inc raised its holdings in CRH by 111.4% in the 4th quarter. Versant Capital Management Inc now owns 668 shares of the construction company’s stock worth $62,000 after acquiring an additional 352 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRH has been the subject of a number of research analyst reports. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. reduced their price objective 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 shares of CRH in a research note on Friday, February 28th. Finally, Citigroup reduced their price target 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. 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. Based on data from MarketBeat, CRH presently has an average rating of “Buy” and a consensus price target of $109.64.

CRH Stock Performance

Shares of NYSE CRH opened at $94.63 on Thursday. The firm’s fifty day moving average is $100.03 and its two-hundred day moving average is $96.61. CRH plc has a 52-week low of $71.18 and a 52-week high of $110.97. The company has a market cap of $64.00 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

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