Hsbc Holdings PLC Has $21.02 Million Position in CRH plc (NYSE:CRH)

Hsbc Holdings PLC cut its holdings in CRH plc (NYSE:CRH) by 43.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 226,174 shares of the construction company’s stock after selling 174,922 shares during the quarter. Hsbc Holdings PLC’s holdings in CRH were worth $21,020,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CRH. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of CRH by 7.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company’s stock worth $144,605,000 after acquiring an additional 114,072 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in CRH by 22.1% during the 4th quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company’s stock worth $3,012,000 after buying an additional 5,889 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CRH by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company’s stock worth $226,732,000 after buying an additional 232,977 shares in the last quarter. Merit Financial Group LLC boosted its position 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 buying an additional 5,610 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of 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 buying an additional 12,076 shares during the period. 62.50% of the stock is owned by institutional investors.

CRH Trading Up 1.4 %

NYSE:CRH opened at $92.62 on Friday. The stock has a market cap of $62.64 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.15 and a beta of 1.30. The stock has a 50-day moving average price of $92.68 and a two-hundred day moving average price of $95.98. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, March 14th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.60%. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, March 14th. CRH’s dividend payout ratio is presently 22.66%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Royal Bank of Canada dropped their price target on shares of CRH from $127.00 to $108.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Citigroup reduced their price objective on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. 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. Finally, Loop Capital initiated coverage on CRH in a research report on Wednesday, April 9th. They issued a “buy” rating and a $114.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $112.36.

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.