Intech Investment Management LLC Reduces Stock Holdings in CRH plc (NYSE:CRH)

Intech Investment Management LLC decreased its holdings in CRH plc (NYSE:CRH) by 38.2% in the fourth quarter, HoldingsChannel.com reports. The fund 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 quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in CRH in the fourth quarter worth $32,000. Meeder Asset Management Inc. purchased a new stake in CRH in the third quarter worth $35,000. Whipplewood Advisors LLC purchased a new stake in CRH in the fourth quarter worth $38,000. Deseret Mutual Benefit Administrators lifted its stake in 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 acquiring an additional 236 shares during the period. Finally, Spire Wealth Management purchased a new position in CRH during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

CRH has been the subject of several recent research reports. Citigroup lowered their price objective on 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 price objective on CRH in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Finally, StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $109.25.

CRH Price Performance

Shares of NYSE:CRH opened at $95.99 on Wednesday. CRH plc has a 1-year low of $71.18 and a 1-year high of $110.97. The business has a fifty day moving average price of $99.52 and a 200-day moving average price of $96.25. The company has a market capitalization of $64.98 billion, a PE ratio of 19.20, a PEG 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. Investors of record on Friday, March 14th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.54%. This is an increase from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. CRH’s dividend payout ratio (DPR) 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.