KLP Kapitalforvaltning AS Invests $15.09 Million in CRH plc (NYSE:CRH)

KLP Kapitalforvaltning AS acquired a new position in shares of CRH plc (NYSE:CRH) in the fourth quarter, according to its most recent 13F filing 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.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of CRH by 7.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company’s stock worth $144,605,000 after buying an additional 114,072 shares during the last quarter. Park Avenue Securities LLC lifted its stake in CRH by 22.1% in the 4th quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company’s stock valued at $3,012,000 after purchasing an additional 5,889 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CRH by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company’s stock valued at $226,732,000 after purchasing an additional 232,977 shares during the last quarter. Merit Financial Group LLC lifted its stake in CRH by 31.8% in the 4th quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company’s stock valued at $2,151,000 after purchasing an additional 5,610 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in CRH by 19.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company’s stock valued at $6,733,000 after purchasing an additional 12,076 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

CRH Trading Down 2.9 %

Shares of CRH opened at $94.79 on Monday. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97. The firm’s 50 day moving average is $99.81 and its 200-day moving average is $96.44. The stock has a market capitalization of $64.16 billion, a PE ratio of 18.96, a P/E/G ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This is a boost from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a dividend yield of 1.56%. CRH’s dividend payout ratio (DPR) is currently 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.