Korea Investment CORP Has $41.92 Million Stake in CRH plc (NYSE:CRH)

Korea Investment CORP lowered its stake in CRH plc (NYSE:CRH) by 51.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 453,138 shares of the construction company’s stock after selling 474,309 shares during the period. Korea Investment CORP’s holdings in CRH were worth $41,924,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of CRH in the fourth quarter worth $833,000. Blue Grotto Capital LLC increased its stake in shares of CRH by 42.8% in the fourth quarter. Blue Grotto Capital LLC now owns 300,000 shares of the construction company’s stock worth $27,756,000 after purchasing an additional 89,957 shares during the period. Banco BTG Pactual S.A. grew its holdings in CRH by 86.9% in the 4th quarter. Banco BTG Pactual S.A. now owns 7,627 shares of the construction company’s stock valued at $707,000 after buying an additional 3,547 shares during the last quarter. TrueMark Investments LLC lifted its holdings in shares of CRH by 9.2% during the fourth quarter. TrueMark Investments LLC now owns 38,912 shares of the construction company’s stock worth $3,600,000 after buying an additional 3,275 shares during the last quarter. Finally, UNIVEST FINANCIAL Corp boosted its position in shares of CRH by 5.3% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 11,018 shares of the construction company’s stock valued at $1,019,000 after acquiring an additional 557 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRH shares. JPMorgan Chase & Co. dropped their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Citigroup decreased their price objective on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Berenberg Bank set a $120.00 target price on CRH in a research note on Friday, February 28th. Finally, StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $109.64.

CRH Stock Performance

Shares of CRH opened at $92.10 on Friday. The business’s fifty day moving average price is $99.96 and its two-hundred day moving average price is $96.58. The firm has a market capitalization of $62.28 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.15 and a beta of 1.30. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. CRH’s 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.